Singapore shares may be able to build on yesterday's gains on back of Wall Street's advance overnight, paving way for STI to set new year-to-date high. Immediate resistance for benchmark, which closed +1.5% at 2010 high of 3,066.81 yesterday, at lower end of 3,085-3,146 breakdown gap formed in June 2008, then 3,100, according to Dow Jones.

But profit-taking can't be ruled out as session progresses, given STI +3.9% so far this month. Asiasons WFG Securities notes while recent better-than-expected US economic data have helped sentiment, “we remain worried about the actual health of the US economy.”

Asiasons advocates selling on strength: “As we view the current improvement in sentiment due mainly to expectations rather than actual improvement in economic numbers, upside is likely to be limited.”

NOL (N03.SG), SembMarine (S51.SG) may gain with new data from shipping group showing continued improvement in operations, rig-builder clinching $110 million contracts. NOL closed +1.5% at $2.03, SembMarine +1.0% at $3.96.