Home THE DAILY EDGE Business STI +0.3% in thin trade; US events eyed: CIMB
STI +0.3% in thin trade; US events eyed: CIMB

Tags: Genting Singapore | Genting Singapore Plc

Written by Dow Jones & Co, Inc   
Tuesday, 02 November 2010 10:42
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STI +0.3% at 3,201.28 with 1.8 gainers per loser in broad market; 258 million shares traded worth $314 million, says Dow Jones.

Market continues recent positive tone though light volume suggests participation thin ahead of this week’s key events. “It looks like it’s neither here nor there...it’s that kind of morning as we await the great election, the great QE2 and the great employment report,” says CIMB economist Song Seng Wun.

Song notes latest batch of PMI numbers have surprised on upside, showing some manufacturing resilience in places like China, India some European countries; “while that should give us encouragement, and it did provide a little bit of life to trading yesterday, now we are back to ‘tweeedle-dee tweedle-dum’ of Fed, election and employment watch.”

Genting Singapore (G13.SG) top traded, +1.3% at $2.26; United Envirotech (U19.SG) +4.4% at $0.475 after strong 3Q results. STI hovering around 3,200 mark, 3,220 recent peak unlikely tested today.

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Last Updated on Tuesday, 02 November 2010 10:44