Singapore shares may track modest pullback by US stocks overnight, although market’s undertone in near term expected to remain firm given improving risk appetite, says Dow Jones.

STI, down 0.2% at 3,195.02 yesterday, likely to hold above 3,160 (October 13 low), with immediate resistance for any upside at year-to-date high of 3,220.

“The two big listings next week appear to have mopped up a bit of liquidity from the market. But the fact that there’s keen interest in them shows there’s demand for higher-risk assets like equities. So, any pullback would be a chance to pick up stocks if you have a positive view of the market,” says a dealer at local brokerage.

Global Logistic Properties (MC0.SG) debuts Oct. 18 while Mapletree Industrial Trust (no stock code yet) starts trading Oct. 21.