Singapore shares struggle to gain traction amid lack of cues with corporate news flow thin, widely-tracked Hong Kong, China markets closed, says Dow Jones.

STI +0.4% at 3,110.21 midday after drifting in tight 3,101-3,112 band, suggesting year-to-date high of 3,125 not likely to be tested.

“There’s not much news flow to guide the market, so there’s not a lot of activity going on. The upside should be modest for the rest of today,” says dealer.

Overall volume light at 895.5 million shares worth $730.8 million, with Genting Singapore (G13.SG) accounting for 16% of total shares; stock +5.4% at $1.96, with dealers attributing gains to short-covering after almost sustained losing streak over last 8 sessions. Market breadth at 2 gainers for every decliner.

Among blue chips, CapitaLand (C31.SG) +1.7% at $4.13, NOL (N03.SG) +2.0% at $2.02, Jardine Matheson (J36.SG) +1.5% at US$45.80.