The STI is +0.6% at 3274.79 and it’s likely to extend winning streak to 4 sessions today as confidence in the global economic outlook, and Singapore’s position as a beneficiary of that and the continued loose monetary stance in western economies remains high. 

CIMB says Singapore will benefit from the QE2 package as well as austerity measures and tax reforms in developed economies in 2011. “The former will raise prosperity levels in developing Asia and should drive up demand for regional travel and other leisure services. The latter, should spur demand for investment services in Singapore.” 

 

It has an end-2011 STI target of 3560. Analysts tip resistance at 3285. Commodities plays post strong gains, like Noble (N21.SG) and Wilmar (F34.SG), up 2.0%-2.2%. Raffles Education (E6D.SG) rises 7.3% to $0.295, GLP (MC0.SG) adds 2.3% at $2.21, both in top actives list. 1.41 billion shares are traded so far; 2.4 risers per decliner.