Singapore blue chips in play, with STI +0.6% at 2,943.17 midday. Immediate resistance at current July high of 2,958, says Dow Jones.

Still, activity in broad market sluggish, with market breadth tad negative, volume paltry at just 510.1 million shares worth $568.2 million.

“I guess people are still sticking to Singapore’s growth story, with inflation well contained, interest rates low and property prices still rocketing,” says dealer at foreign brokerage.

Among STI components, Olam (O32.SG) +3.1% at $2.70, with brokers citing interest by fund managers following commodity trader’s recent acquisition of NZ Farming Systems Uruguay (NZS.NZ). Other notable gainers include Fraser & Neave (F99.SG), +2.5% at $5.71, Sembcorp Industries (U96.SG), +1.5% at $4.21.