Action in Singapore bourse in stark contrast to yesterday’s, with participation sharply lower as players retreat to sidelines, writes Dow Jones.

Volume merely 621.8 million shares worth $594.9 million at midday vs whole of yesterday’s 2.25 billion worth $2.16 billion. STI off 0.3% at 3,004.24; next support at 2,979 (July 30 low) if 3,000 fails to hold. Market breadth flat.

“Our concern is that the (recent) rally might not last for too long as there are signs of consolidation,” says SIAS Research technical analyst Edmund Seow; “this might not be a bad thing as that would give some relief to the markets and (get) investors comfortable with the current levels.”

Small caps most active in market, led by Berlian Laju (B66.SG), flat at $0.035, Baker Technology (568.SG), +6.0% at $0.445, Genting Hong Kong (S21.SG), flat at US$0.26. Among blue chips, Keppel Corp. (BN4.SG) down 2.4% at $9.11 as stock trades ex-dividend.