Singapore shares extend recent good run, taking cue from gains on Wall Street; The STI is up 0.5% at 2,928.46 with resistance tipped at current 2010 high of 2,947, with index now up 5% in past 2 weeks, reported Dow Jones Newswires.

“I think the market is recovering because the factors that caused the correction have been resolved; China has not announced any surprising (tightening) measures and the Europe debt problem does not look as serious as when it first surfaced,” says Westcomb research head Goh Mou Lih.

SembMarine (S51.SG) +0.5% at $4.04 following news of $550 million contract win. Other notable risers include SembMarine parent Sembcorp Industries (U96.SG) +1.0% at $4.03 and UOB (U11.SG) building on yesterday’s gains, +1.5% at $19.54. Broad market volume very thin; gainers outnumber losers 2 to 1.