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The STI is off 0.2% at 3272.06, taking a breather after 4 straight sessions of gains. Market breadth is slightly biased to the negative with 378 million shares traded so far.
“The Singapore market has done well for the first four trading days of 2011, with the STI up 2.8% so far on higher volume...we expect the laggards to come into play this year and this has happened a lot earlier and faster than expected,” says OCBC.
“The Singapore market has done well for the first four trading days of 2011, with the STI up 2.8% so far on higher volume...we expect the laggards to come into play this year and this has happened a lot earlier and faster than expected,” says OCBC.
The house expects market momentum to remain healthy in 2011, “albeit at a slower pace than 2010, although volatility will remain as there is still the lingering concern over the Eurozone and its debt crisis.”
Kim Eng (K50.SG) rises 11.9% to $3.02 on resuming trade after MayBank’s (1155.KU) US$1.4 billion ($1.81 billion) offer to buy the brokerage; the stock is still below the $3.10 per share offer price. The STI is likely to stay above 3260, with 3300 as N/T cap.
