Singapore shares tad choppy in initial trade, with STI +0.2% at 3295.92 vs down 0.1% at 3285.29 earlier; immediate resistance at year-to-date high of 3313, support at this week’s current 3257 low. 

‘Yesterday’s sideways session has put short-term RSI readings back into healthy territory. The STI is still strongly biased to the upside, so continuation of the move is likely,’ says Phillip Securities analyst Phua Ming-Weii. Market breadth marginally positive. 

 

Small caps most active in market, led by Nordic Group (MR7.SG), +2.0% at $0.255, SunVic Chemical (A7S.SG), +3.0% at $0.695, China New Town (D4N.SG), flat at $0.155, Wee Hur (E3B.SG), +0.9% at $0.57. Among blue chips, Wilmar (F34.SG) still biggest loser after yesterday’s 5.4% fall, now down 2.5% at $6.35, on weak 3Q10 results.