STI +0.8% at 3231.36 at levels last hit May 2008; broad market advance with 295 gainers vs 129 losers; benchmark +3.4% since last Wednesday’s 1.2% fall, which now looks like minor correction to recent upward march. 

DBS Vickers says following STI’s September to mid-October run-up (about 300 points to 3220), “we see the index holding sideways as it heads into the year-end holiday lull.” 

Tips trading activity to slow post 3Q earnings season. “Historically, market interest picks up again only closer to December-end.” Pegs range of 3100-3250 in weeks ahead, before move towards 3438 technical objective 1Q11. 

 

Freight Links (F01.SG) top traded, +12.5% at $0.09; palm oil plays gain on bullish outlook for CPO prices; Golden Agri (E5H.SG) +2.2% at $0.705 in active trade; Indofood Agri (5JS.SG) +3.3% at $2.74, Kencana Agri (F9M.SG) +2.4% at $0.425. Tiger Airways (J7X.SG) +2.7% at $1.93 after 2Q results.