Singapore shares holding above water but further gains limited as investors cautious after solid gains recently, says Dow Jones.

STI +0.5% at 3,112.62 midday, with immediate resistance at year-to-date high of 3,125.

Market breadth at over 3 gainers for every decliner, but overall volume light at 1.06 billion shares worth $931.9 million, with Genting Singapore (G13.SG), Genting Hong Kong (S21.SG) most active.

Genting Singapore +0.5% at $1.96, Genting Hong Kong +4.7% at US$0.45, recouping part of yesterday's hefty losses prompted by Genting Singapore CEO's stake reduction via sale in open market.

"The market is not doing that badly. Some profit-taking is to be expected as prices cannot go up everyday," says broker at Singapore bank.