Singapore shares may open higher given positive cue from Wall Street overnight, but intraday pullback can’t be ruled out with prices already at new 2010 highs, according to Dow Jones.

Resistance for STI, which closed +0.7% at 3,071.03 yesterday, at 3,100 (last breached in June 2008). Index +4.1% since beginning September.

“The STI is now at a new 52-week high. Expect some profit-taking either today or Friday,” says a dealer at local brokerage; tips support at 3,050.

DBS says near-term market outlook still favourable; “valuations are attractive in Singapore, giving (the market) room for re-rating and cushion for downside.”

Among blue chips, Singapore Airlines (C6L.SG) may underperform on carrier’s lower passenger, cargo growth in August vs July; closed down 0.4% at $16.00.