STI +0.6% at 3,209.35 midday, with 1.6 gainers for every decliner; volume low with only 686 million shares changing hands, worth $900.7 million; limited participation likely reflects caution ahead of Fed meeting, also investors taking breather after market’s strong gain yesterday.

UOB KayHian says recent price action confirms validity of uptrend channel (3,100-3,300), if momentum continues index should rise beyond recent peak of 3,220 (October 15) to upper channel of 3,300.

“Aggressive traders can initiate small positions while conservative investors can wait (to see) if it exceeds the previous high before getting their feet wet.” Tips support at 3,100.

Among blue chips, SembMarine (S51.SG) off 0.4% at $4.72 after Monday’s 3.0% rise; Genting Singapore (G13.SG) most traded, +1.3% at $2.26. United Envirotech (U19.SG) also features in most active list, +3.3% at $0.470 after strong 3Q.