Singapore shares staging broadly on back of Wall Street’s overnight rally, pushing STI +1.0% at 3,192.47, says Dow Jones.

If 3,200 fails to hold as resistance, next resistance tipped at 3,214 (June 2 high).

“Technically, the MACD indicator has initiated a clear rebound off its signal line over the past few sessions and this continues to suggest improving upside momentum going forward,” says OCBC Investment Research analyst Philip Teo.

Market breadth at 12 gainers for every decliner. Sembcorp Marine (S51.SG) top percentage gainer among blue chips, +5.1% at $4.33, as company secures contracts, options for nearly US$1 billion ($1.3 billion) worth of jack-up rigs.

Most active stocks in market comprise good mix of large, mid, small caps, including Genting Singapore (G13.SG), +1.4% at $2.11, Yongnam (Y02.SG), +3.2% at $0.32, Valuetronics (BN2.SG), +4.0% at $0.26.