The STI is up 0.4% at 3247.54, extending yesterday’s climb after Wall Street’s strong session, as optimism over the domestic and global economy remains elevated.

There are 2.5 gainers per decliner in the broad market; two thirds of STI stocks are in the green. Volume is decent thus far with 531 million shares traded. 

 

Phillip Securities says it “looks like risk is coming back on” with the U.S. dollar declining while the CRB (commodities price index) strengthens. “(It) suffices to say our market view for stocks...remains positive.” 

 

For the STI, the house says 3220 is expected to hold as support, with modest resistance at 3260, then 3285 before key resistance in the 3300-3318 region. 

 

Leader Environmental (LS9.SG) is the most active stock so far, +8.5% at $0.255, likely helped by a bullish note from DMG, which initiated the stock with a Buy rating. Marco Polo Marine (5LY.SG) is also in the most actives list, +8.0% at $0.47, after saying it’s mulling a listing of TDRs in Taiwan.