Investors pare positions in Singapore shares ahead of long weekend as city-state celebrates National Day on Monday, says Dow Jones.

Caution ahead of US July non-farm payrolls data due later Friday also keeping buyers away. STI down 0.6% at 2,988.87 midday, led by SingTel (Z74.SG), off 2.2% at $3.05, UOB (U11.SG), off 1.0% at $19.50, Keppel Corp. (BN4.SG), off 1.7% at $9.07, NOL (N03.SG), off 1.4% at $2.10, Sembcorp Industries (U96.SG), off 1.6% at $4.24.

Having briefly slipped below 2,979 (July 30 trough) to low of 2,978, STI expected to find support at 2,963 (higher end of minor breakup gap formed July 23). Decliners outnumber gainers by over 2 to 1 in broad market, with overall volume half of yesterday’s 1.90 billion shares.

“People would rather close their positions now and look forward to the long weekend than take on more risk,” a dealer says.