Singapore Airport Terminal Services (S58.SG) off 1.7% at $2.91 as investors sell on strength, with improvement in June-quarter results validating sustained share price run-up over last six sessions, says Dow Jones.

Stock still +5.3% month to date, holding close to yesterday’s 52-week high of $2.97. Support tipped at 10-day moving average, last at $2.85. Earnings for fiscal 1Q11 ended June +9.7% on-year at $44.3 million on higher revenue from both aviation, food businesses, as well as increased contributions from overseas associates.

“Full-service carriers have not added back even half of the capacity which they cut during the downturn last year. So, there is some room for potential upside in the second half of this year,” says Nomura, which has Buy call with $3.40 target.