Singapore stocks cling to modest gains, retracing part of yesterday’s pullback, with upside for rest of session likely minimal given lack of strong leads. 

STI +0.4% at 3,301.29 midday, with immediate resistance at year-to-date high of 3,313. Number of gainers, decliners evenly matched in broad market. Participation low with volume merely 1.04 billion shares worth $1.09 billion. 

“I think the market must take a breather (after the recent strong gains). There’s still a lot of money flooding the market, which will help the commodity plays,” says trader at local house. 

 

Noble Group (N21.SG) +2.3% at $2.22, Golden Agri-Resources (E5H.SG) +3.3% at $0.775, Indofood Agri (5JS.SG) +2.5% at $2.86. Nordic Group (MR7.SG), which started trading yesterday, most active in market, down 8.0% at $0.23, but above $0.20 IPO price.