Singapore shares fall slightly more after the break, with the STI down 0.6% at 3259.90 vs down 0.4% midday, hovering near the 3260 resistance that was taken out yesterday; investors are taking profit after the index’s 2.8% rise in the last four sessions, ahead of the weekend and tonight’s U.S. non farm payrolls release. 

Despite today’s pullback, UOB KayHian says it remains positive on the overall stock market. “The index is already a stone’s throw away from resistance of 3300 but we expect some volatility to occur,” the house says.

 

It adds, several technical indicators remain bullish. Support is expected at prior resistance of 3200. Only five STI stocks are in positive territory, led by Wilmar (F34.SG) up 1.2% at $5.71. Genting Singapore (G13.SG) is down 0.9% at $2.20 in average volume; the most active stock today is Berlian Laju Tanker (B66.SG) rising 9.1% to $0.060. There are 1.60 billion shares traded in the broad market, with 1.6 fallers per gainer.