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Singapore shares are flat, with the STI hovering around the 3250 mark, as the exuberance of the last two days fades away.
Volume shrinks slightly too, with 1.10 billion shares traded vs 1.50 billion at this point yesterday. “The main talk is that there’s really very little fresh incentive to buy,” says an analyst at a local brokerage. He says players will be watching the U.S. for cues, as well as China, where tackling inflation is now the key concern.
Volume shrinks slightly too, with 1.10 billion shares traded vs 1.50 billion at this point yesterday. “The main talk is that there’s really very little fresh incentive to buy,” says an analyst at a local brokerage. He says players will be watching the U.S. for cues, as well as China, where tackling inflation is now the key concern.
“There are some pertinent concerns out there and of course the European debt situation is not out of the picture, so there are few fresh positives and we’ll likely be trading more sideways for now. Some people are using the last two days’ performance to take some profit, which makes sense,” he adds.
There are 1.5 decliners for every gainer and 3220 is still the key STI support. Most actives include Leader Environmental (LS9.SG) up 7.6 at $0.285 and GLP (MC0.SG) up 1.4% at $2.17.
