Singapore shares open firmer, drawing strength from early gains in Nikkei, Kospi, says Dow Jones.

STI last +0.7% at 3,007.62 at 9:25 a.m., expected to meet resistance at year-to-date high of 3,037 set in April; market breadth at 3 gainers for every decliner.

“We are not forecasting the STI to attain a new 2,010 high for now as the 14-day RSI is close to being overbought,” says DMG technical analyst James Lim, adding, “we therefore advise traders to keep their stop losses tight while any profits should be quickly taken off the table as the present market conditions only favour the scalpers.”

SMRT (S53.SG) worst performer among STI components, down 2.3% at $2.17, as rail operator’s guidance for potentially lower profit for current year weighs. Recent new listing Kreuz Holdings (5RK.SG) most active in market, +6.9% at $0.39, holding well above $0.27 IPO price since debut on Thursday.