Singapore stocks likely to open higher in response to Wall Street’s broad-based gains Friday driven by better-than-expected US August non-farm payrolls data, says Dow Jones.

Resistance for STI (closed +0.5% at 3,002.56 Friday, +2.2% last week) expected at year-to-date high of 3,043 set in August.

“After a few long and hard weeks of correction, the market is ready to react to any good news,” says head of SIAS Research Roger Tan; but warns against being too bullish as, “economic data -— especially in the short term — are subject to volatility and a few additional information points do not change the fact that jobs (in the U.S.) are still not coming back after almost a year since emerging from the recession.”

Singapore Airlines (C6L.SG) may be eyed as carrier unveils new CEO, Goh Choon Phong, to succeed Chew Choon Seng from Jan. 1 next year; closed +0.5% at $15.60 Friday.