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STI flat at 3143.77 midday with little impetus pushing market either way, though negative tone likely to remain given weak China, HK bourses in face of China data reinforcing need for Beijing tightening measures.
“With the markets still rather weak at this point in time, we’re concerned that stocks will still be trading cautiously,” says SIAS Research technical analyst Edmund Seow. “That being said, the U.S. markets do seem to have a little more stability in them at this time, and their consolidations seems to be starting to end.”
“With the markets still rather weak at this point in time, we’re concerned that stocks will still be trading cautiously,” says SIAS Research technical analyst Edmund Seow. “That being said, the U.S. markets do seem to have a little more stability in them at this time, and their consolidations seems to be starting to end.”
Low 527 million shares traded, with debutante Amtek (M1P.SG) most active, at $1.02, well below $1.30 IPO price. SembCorp Marine (S51.SG), down 1.6% at $4.79, still underperforming peers after Petrobras tender pricing last week. Reyoung Pharmaceutical (R12.SG) +21% at $0.520 on buyout offer; C&O Pharmaceutical (E92.SG) +3.1% at $0.50 on investment by Sumitomo Corp. 3118 still likely STI support.
