Singapore shares likely to end on positive note, helped by gains across Asian markets, firmer US stock futures, according to Dow Jones.

STI’s upside, however, likely limited given weakness in property stocks, with CityDev (C09.SG) off 3.3% at $11.56, CapitaLand (C31.SG) off 1.5% at $3.94 in response to new government measures to cool housing market. Index +0.5% at 2,954.73, likely to face resistance at 2,969 (Aug 11 high).

While uncertainties over global economic health remain, DBS Vickers says downside for STI in near term likely limited.

“We believe that the local bourse is well prepared for growth moderation in 2H...This is because the year-to-date flat performance in the STI showed that investors had spent the past eight months worrying about uncertainties and ignored 1H growth,” says the research house.

Overall market volume remains modest. Notable gainers among STI components include Genting Singapore (G13.SG), +3.1% at $1.65, Olam (O32.SG), +2.2% at $2.74, SingTel (Z74.SG), +1.3% at $3.04.