Singapore stocks retain early gains but momentum slows as investors await more economic data, especially from US, before committing, according to Dow Jones. STI +0.2% at 3,010.03 midday, with resistance at 3,043.

“We could see the index heading for the 52-week high of 3043 in the days ahead,” says OCBC Investment Research technical analyst Philip Teo; notes upside momentum remains intact as RSI still climbing towards overbought region, MACD indicator trending higher steadily after recent bullish crossover.

Market breadth narrower at 2 gainers for every decliner vs 3 for 1 in early trade. Most active stocks in market mainly small caps, including Genting Hong Kong (S21.SG), +1.2% at US$0.425 ($0.571), Pine Agritech (P78.SG), +5.1% at $0.205, Spice i2i (M09.SG), +4.0% at $0.13, Oceanus (579.SG), +3.2% at $0.325.