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Singapore shares are down 0.1% at 3239.68 with 1.27 billion shares traded worth $1.06 billion, suggesting that lower liners are seeing the lion’s share of interest; the most active stock remains Bio-Treat (B22.SG), flat at $0.050.
Directionless, rangebound trade looks likely to persist, with few solid cues from offshore, while the benchmark remains above 3220 support, and below resistance at 3250, 3280 and 3300.
Directionless, rangebound trade looks likely to persist, with few solid cues from offshore, while the benchmark remains above 3220 support, and below resistance at 3250, 3280 and 3300.
Julius Bar says the STI’s strong performance in the first week of 2011 came on the back of cues such as gains in U.S. and regional markets and better-than-expected 4Q 2010 GDP numbers.
It recommends investors buy “blue chip laggards” such as CapitaLand (C31.SG), DBS (D05.SG), GLP (MC0.SG), and “late cyclicals” such as Cosco Corp. (F83.SG) and Keppel Corp. (BN4.SG). Straits Asia (AJ1.SG) is up 7.6% at $2.84, on gaining the Principle Licence for the Northern Leases. SembMarine (S51.SG) leads advancers in the STI, and is up 1.2% at $5.24.
