Singapore stocks expected to close in positive territory with STI ending at highest level in at least 4 weeks. Benchmark +1.3% at 2,855.10, with resistance at 2,899 (May 11 peak), according to Dow Jones.

Gains remain broad-based with all FTSE ST sub-indexes up, led by FTSE ST Maritime Index, +3.8%.

“Short-term traders who had build up positions in the past one week should look to lock in some gains by Friday,” says DBS Vickers. Notes lead-up to this Friday’s ‘triple witching’ in US may partly explain recent resilience on Wall Street; “triple witching occurs when stock index futures, single stock futures, stock index options and stock options all expire on the same day, and has been known to cause erratic behaviour in the week leading up to the event. If our suspicion is true, the current rise in US markets will stall by this Friday and consolidate recent gains next week.”

NOL (N03.SG) top percentage gainer among blue chips, +5.6% at $2.06 as sector sentiment boosted by hopes of increased shipping demand following Cosco’s (F83.SG) win of US$440 million ($613 million) contracts to build bulk carriers for European ship-owners; Cosco +4.8% at $1.52.