STI down 0.5% at 3176.62 with 2 stocks lower for every 1 higher; 1.2 billion shares traded worth $1.31 billion. Pullback today on sharp fall in U.S. stocks Tuesday, but Singapore shares expected to continue their recent run towards year end after index +9.3% since end-August. 

“With the MAS strengthening the SGD and global liquidity conditions supported by Fed QE actions, we see a strong fourth-quarter performance for the STI as investors shift towards reflation plays,” says Nomura analyst Jit Soon Lim. 

Reiterates bullish stance on banks, now also bullish upstream commodities plays. DBS (D05.SG) down 1.2% at $14.54, UOB (U11.SG) off 1.5% at $18.62, OCBC (O39.SG) down 0.9% at $9.12. NOL (N03.SG) +4.4% at $2.15, Osim (O23.SG) +1.9% at $1.07, both on better-than-expected 3Q earnings. Support at 3142 last week’s low, 3220 resistance.