STI last +0.5% at 3220.26, after rising to new 29-month highs, following Wall Street’s rise, gains across region; sentiment towards equities buoyed by expectations U.S. mid-term elections to show swing to Republicans, while Fed about to return to printing press, which should see more liquidity flow into Asian markets; also, domestic corporate earnings “so far seem to suggest the economy, while globally may be still mixed, might be in slightly better shape than expected, so that’s why I think we’re on the optimistic side while we await these (U.S. events),” says CIMB economist Song Seng Wun. 

Market breadth positive with 2.7 gainers for every decliner; volume tad up on yesterday with 316 million shares traded worth $387 million. SIA Engineering (S59.SG) top percentage gainer in STI, +2.3% at $4.52, despite guiding for moderation in 2H earnings. Index trading around 3220 October peak, once that's firmly taken out, May 2008 peak at 3267 may cap.