Singapore shares still holding above water but light volume suggests appetite for risk remains low, with investors preferring to wait for more signals on US economy, including revised 2Q10 GDP data and Fed chief Bernanke’s economic assessment due later Friday, says Dow Jones.

STI +0.6% at 2,942.32 midday, with resistance expected at last week’s 2,952 high. Market breadth flat. “Over the last few weeks, the Singapore market has been pretty resilient to the US selloff, and we believe that we might be seeing more of the same,” says Sias Research technical analyst Edmund Seow.

MCL Land (M25.SG) top absolute gainer in market, +25.1% at $2.44, as developer receives delisting offer. Among STI stocks, Olam (O32.SG) remains best performer, +8.0% at $2.71, as solid June-quarter results fuel hopes performance in coming quarters will also be strong.