Singapore stocks generally still weak, with STI dragged down by caution ahead of tomorrow’s June-quarter results announcements by handful of component companies: SingTel (Z74.SG), CityDev (C09.SG), Noble Group (N21.SG), Genting Singapore (G13.SG), Sembcorp Industries (U96.SG), says Dow Jones.

Index off 0.9% at 2,957.44 midday; support expected at 2926 (July 21 low). Decliners outnumber gainers by over 2 to 1 in broad market. Overall volume modest at 898.1 million shares worth $734.4 million.

“The concern now appears (to be) the slowing US economy, but consensus still calls for avoidance of a double dip. So long as this scenario remains, there should not be another correction phase in world stock markets,” says AmFraser Securities strategist Najeeb Jarhom.

Enzer Corp. (545.SG) most active in market, +66.7% at $0.175 on 98.8 million shares, as money-losing audio equipment distributor seeks better fortunes by investing in shipping company.