STI down 0.2% at 3175.54 midday, with 1.9 decliners for every gainer, moderate 960 million shares traded worth $967.8 million. Analyst at local brokerage says STI likely to remain in narrow range medium term, possibly until January 2011; adds, index moving in resistance area of 3160-3200, with good support at 3100. 

’The market is unlikely to get too excited about 3Q results, the outlook for next year is more important.’ Also, small-cap stocks likely to continue to outperform. Transcu (E15.SG) +3.7% at $0.14, top traded stock, after its board announces gets in-principle approval from SGX for listing of rights shares, warrants. 

 

SGX (S68.SG) down 3.2% at $8.66, extending yesterday’s 6.2% fall as investors digest reaction to bourse’s proposed merger with ASX. Sino Techfibre (AD8.SG) off 4.3% at $0.11 after it says expects loss in 3Q due to resignations of some specialized staff.