Singapore shares fail to build on early gains as players content to take some money off table pending fresh leads, according to Dow Jones.

STI off 0.4% at 2,937.40 midday vs +0.3% at 2958.61 earlier, expected to hold above 2900 for rest of session.

 

“The STI is currently on the verge of consolidation and we are watching the market closely to see just how (much) higher the market would go before it breaks,” says SIAS Research technical analyst Edmund Seow, “At this time, a wait-and-see attitude is probably the best.” 

 

Market breadth tad negative vs 4 gainers for every decliner in early trade. Volume thin at 783.1 million shares worth $865.1 million, with good mix of small, large caps among most active, including Bund Center Investment (LJ1.SG), flat at $0.615, Genting Singapore (G13.SG), flat at $1.20, CapitaLand (C31.SG), +0.3% at $3.84, Noble Group (N21.SG), +1.8% at $1.72.