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Singapore shares in broad-based advance, catching up with gains across Asia Friday, when local market shut for public holiday. Gainers outnumbering decliners by 4.5 to 1. STI last +0.9% at 3268.36.
Having risen above May 2008 high of 3270 in early trade when it reached 3274.76, index likely to test 3300 in coming days if momentum continues. ”The index must hold above (3200) for the bulls to remain in charge. RSI and Stochastic are reading above neutral and momentum is positive,” says Kim Eng Securities.
Having risen above May 2008 high of 3270 in early trade when it reached 3274.76, index likely to test 3300 in coming days if momentum continues. ”The index must hold above (3200) for the bulls to remain in charge. RSI and Stochastic are reading above neutral and momentum is positive,” says Kim Eng Securities.
Among blue chips, SembMarine (S51.SG) +2.5% at $4.86 as 3Q10 results beat expectations. Parent Sembcorp Industries (U96.SG) getting boost, +1.7% at $4.75, as unit's results fuel hopes company's own 3Q10 earnings, due after market close today, will also shine.
