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Low buying conviction expected to limit gains in Singapore shares for rest of day, says Dow Jones. STI +0.5% at 3211.24, with immediate resistance at current 2010 high of 3220.
“The STI opened nearly flat and climbed steadily for the rest of the morning. This suggests that investors are generally still fairly optimistic about the near-term market outlook,” says OCBC Investment Research analyst Philip Teo, but adds upside in afternoon likely minimal based on technical indicators.
“The STI opened nearly flat and climbed steadily for the rest of the morning. This suggests that investors are generally still fairly optimistic about the near-term market outlook,” says OCBC Investment Research analyst Philip Teo, but adds upside in afternoon likely minimal based on technical indicators.
Overall volume remains light, at under 1 billion shares, with top-volume plays including Genting Hong Kong (S21.SG), +3.5% at US$0.445 ($0.577), Berlian Laju Tanker (B66.SG), +10.0% at $0.055, Genting Singapore (G13.SG), +1.5% at $2.08, Golden Agri-Resources (E5H.SG), flat at $0.66, Healthway Medical (5NG.SG), flat at $0.165.
