Singapore shares paring losses, on verge of heading into positive territory, as players nibble on dips, says Dow Jones.

STI flat at 3157.39 vs down 0.3% at 3148.43 midday, with year-to-date high of 3183 expected as immediate resistance, morning low of 3136 as support.

 

“The rebound shows the underlying bias is still positive, at least for the near term. The earnings season will play a big role in determining the market's direction in the coming weeks,” says local house trader. 

Among STI components, Olam (O32.SG) down 3.6% at $3.19 as investors deem stock ripe for profit-taking after recent hefty gains driven by merger talks with Louis Dreyfus Commodities. SIA Engineering (S59.SG) +2.0% at $4.60 on contract from Airbus to service Singapore Airlines’ (C6L.SG) fleet.