Genting Singapore (G13.SG) top percentage gainer among STI components, +3.6% at $2.17, extending last week’s 14.2% rally, says Dow Jones.

Together with sister firm Genting Hong Kong (S21.SG), both stocks again most active in Singapore.

“We are positive on the fundamentals of GENS as the Singapore casino gaming market has proven to be larger than expected,” according to UBS Wealth Management Research; “GENS has also managed to use its first-mover advantage and better understanding of local clients’ preferences to garner a larger-than-expected market share in the Singapore casino gaming market.” But notes valuation no longer attractive after price rally.

Despite RSI on daily, weekly, monthly charts showing stock severely overbought, shares continue to attempt new highs almost daily, +23.7% since beginning September vs STI +4.3% over same period. Orderbook quotes suggest price may head up to $2.20. Genting Hong Kong +4.8% at US$0.545 ($0.727).