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Singapore’s STI is down 0.4% midday at 3266.46, taking a breather after four straight sessions of gains, as caution sets in ahead of tonight’s much anticipated U.S jobs data.
Phillip Securities says last night’s round of soft same-store sales figures from the U.S. “should place even more weight on tonight’s non-farm payrolls number. The market will be looking for confirmation that the recovery is still intact.”
Phillip Securities says last night’s round of soft same-store sales figures from the U.S. “should place even more weight on tonight’s non-farm payrolls number. The market will be looking for confirmation that the recovery is still intact.”
The house adds, the STI “has been consistently pushing higher and approaching resistance at 3280/3285. Short term conditions are a tad overbought.”
It tips next resistance at 3300 and then 3313, with support at 3263/3260 then 3243/3239. Small caps are active with Berlian Laju Tanker (B66.SG) up 9.1% at $0.06, UniFiber (P30.SG) up 11.1% at $0.05.
Among blue chips, Keppel (BN4.SG) and Wilmar (F34.SG) are faring well, up 0.7% and 1.6% higher, respectively. 1.5 losers for every decliner in the broad market with 1.40 billion shares traded worth $1.10 billion.
