Home THE DAILY EDGE Business STI off 0.3%, Briefly below 3,000; 2,979 support
STI off 0.3%, Briefly below 3,000; 2,979 support

Tags: Capitamalls Asia | Keppel Corp. | Keppel Corporation

Written by The Edge   
Wednesday, 04 August 2010 15:03
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Singapore shares still mostly lower, with pullback in most Asian markets and negative US stock futures holding buyers back, says Dow Jones.

STI off 0.3% at 3,004.72 after briefly slipping below 3,000 in post-lunch trade to low of 2,997.23; support at 2,979 (July 30 low).

“On a fundamental view, we believe that Singapore’s prospects are better than most regional economies’. Look for such technical pullbacks for re-entry opportunities,” says Kim Eng Securities.

Overall participation remains low, with volume less than half of yesterday’s 2.25 billion shares, with small caps most active.

Key decliners among blue chips include Jardine group of stocks, CapitaMalls Asia (JS8.SG), off 2.3% at $2.11, Keppel Corp. (BN4.SG), off 2.4% at $9.11.

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Last Updated on Wednesday, 04 August 2010 15:04