Singapore economy’s robust 2Q10 performance, upgrade of 2010 GDP growth forecast bolstering sentiment in stock market, says Dow Jones.

STI last +0.6% at 2,946.55, with immediate resistance at 2,959 (May 4 high). Market breadth at 6 gainers for every decliner, gains broad-based.

“The Singapore market is still performing given that the internal dynamics of the local economy are strong,” says dealer at foreign brokerage, “Singapore looks safe in the region with currency appreciation prospects, fast GDP growth.

There’s better ability for the economy to stand on its own as compared to before.” Among blue chips, notable gainers include DBS (D05.SG) +1.2% at $14.70, NOL (N03.SG) +1.5% at $2.03, Noble Group (N21.SG) +1.7% at $1.75, Sembcorp Industries (U96.SG) +1.2% at $4.23.