Singapore’s STI index is off 0.2% at 3,235.29 midday, turning lower despite Wall Street’s higher close Tuesday and regional markets’ positive bias, as market direction remains unclear after Friday’s bearish engulfing pattern put a stop to the index’s bullish start to 2011. 

UOB KayHian says despite the index yesterday reversing some of its losses from Friday and Monday, “we do not see clear evidence of a rebound off support as yet, with advance-decline ratio of the broader market at 1.3 to 1, and no significant improvement in volume (Tuesday).” 

 

House continues to reiterate 3,200 support as a key level to watch out for. 1.10 billion shares traded so far, worth $894 million with gainers beating decliners 1.4 to 1. Bio-Treat (B22.SG) today’s most active stock, flat at $0.05, followed by Golden Agri (E5H.SG), and Genting Singapore (G13.SG), down 0.6% and up 0.9% respectively.