Firmer US stock futures augur well for Singapore shares for rest of session, paving way for STI to close above 3,100 for first time in 27 months, says Dow Jones.

STI +0.5% at 3,111.25, with resistance at higher end of 3,085-3,146 breakdown gap formed in June 2008. Market breadth at just under 3 gainers for every decliner.

“The buying momentum is strong, especially for the small and mid caps. Despite technical indicators showing overbought conditions, prices could still head higher in the near term,” says a local house dealer.

GMG Global (5IM.SG) remains most active stock in market, +23.4% at $0.29. In response to SGX queries over price action, natural rubber producer says it’s in talks to acquire company in Southeast Asia engaged in rubber production and trading, and in process of taking on project in Africa; no other details disclosed.