Home THE DAILY EDGE Business STI off 0.2%; Technical signs urge caution: Kim Eng
STI off 0.2%; Technical signs urge caution: Kim Eng

Tags: Berlian Laju Tanker | Genting Hong Kong | Kreuz Holdings | Osim International

Written by The Edge   
Wednesday, 04 August 2010 09:41
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Singapore stocks wobbly as investors mull negative cues from Wall Street, notes Dow Jones.

STI off 0.2% at 3,008.18 at 9:32 a.m. If 3,000 fails to hold, next support at 2,979 (July 30 low), with any upside expected to be capped at year-to-date high of 3,043.

Market breadth flat with volume thin.

“We can expect more measured trading on the Singapore market today, especially with technical indicators urging caution,” says Kim Eng Securities.

Among STI components, developers up, rig builders down, commodity plays mixed. Small caps dominating trade in broad market, with most active stocks led by Berlian Laju (B66.SG) flat at $0.035, Genting Hong Kong (S21.SG) flat at US$0.26 ($0.35), Osim (O23.SG) +1.9% at $1.06, Kreuz Holdings (5RK.SG) off 1.0% at $0.48.

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Last Updated on Wednesday, 04 August 2010 09:42