STI up 0.3% at 3134.29 with 2 gainers for every decliner; volume spikes to 1.12 billion shares so far, though most of that accounted for by penny stock Top Global (519.SG), +200% at $0.015 with 460 million shares traded with orderbook suggesting married deal at $0.010. 

Market bounce unsurprising after yesterday’s 1.2% fall in anticipation of a smaller-than-anticipated Fed action next week; after that, going into mid-November, DBS Vickers strategist Yeo Kee Yan says ’market activity is likely to quieten down, and remain quiet until at least end-December/early next year.’ 

 

Says though undertone positive, with expectations for increased liquidity if Fed’s QE goes through, ’I don’t think the upside will last until December.’ 

 

Among gainers, China XLX Fertiliser (B9R.SG) +1.7% at $0.59 after reporting solid 3Q results, Genting Singapore (G13.SG) +1.9% at $2.17 after yesterday’s 4.1% fall, SGX (S68.SG) +1.0% at $8.93. Index in tight 5-point band so far, unlikely to test yesterday’s extremities of 3119-3180.