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STI +0.3% at 3163.15 at midday break, sticking close to opening 3164 level, trading in tight 3161-3173 band in morning session; about 1.6 gainers for every loser in broad market; resistance remains at year-to-date high of 3197, says Dow Jones.
Mild gains may reflect caution going into earnings season, also uncertainty over what Fed will come up with to help flagging U.S. economy. “Any disappointment (from potential Fed measures) may not be taken lightly by the market, perhaps there is too much expectation that Bernanke can come up with the goods, and if he doesn’t deliver then we may be in for a fall,” says broker at local house.
Mild gains may reflect caution going into earnings season, also uncertainty over what Fed will come up with to help flagging U.S. economy. “Any disappointment (from potential Fed measures) may not be taken lightly by the market, perhaps there is too much expectation that Bernanke can come up with the goods, and if he doesn’t deliver then we may be in for a fall,” says broker at local house.
Volume of shares likely to overtake Friday’s level, at 1494 million so far, though value traded suggests lower liners, penny stocks receiving most interest.
Palm oil stocks up on bullish cues for CPO price after USDA cuts soybean. corn harvest forecast; Golden Agri (E5H.SG) +5.2% at $0.605, Indofood (5JS.SG) +4.8% at $2.40, Wilmar (F34.SG) +1.3% at $6.06. Biosensors (B20.SG) +10% at $1.10 on new investor planning to take 29.47% stake.
