Singapore’s STI remains up 1.2% at 3226.71, and looks likely to stay in positive territory for the rest of the session; good buying in blue chips is seeing about two thirds of STI components rise 1.0% or more, led by Golden Agri’s (E5H.SG) 2.5% gain to $0.820 with a good volume of 61 million shares. 

Market breadth is still positive with 3 gainers per decliner and volume is better at 1.25 billion shares traded worth $842 million, as many players return to the market after the seasonal lull. 

 

Amtek Engineering (M1P.SG) surges 9.3% to $1.18, likely helped by a bullish note from brokerage CIMB, which initiated the stock at Outperform. China Gaoxian (I4U.SG) continues its recent climb, up 11.3% at $0.445, on increased awareness of the firm’s prospects ahead of its planned Korea dual listing.

Analysts say 3220 is a key level for the STI, and a close above there would signal further upside, with 3250 as the next likely target.