Singapore’s STI is +0.2% at 3251.33 midday, with 1.14 billion shares traded worth $919.8 million and around 2.2 gainers per decliner in the broad market.

Today’s trade has a slightly positive bias to it, as global equities breathe a sigh of relief over Portugal’s debt auction, but the STI’s earlier dip into the red reflects a lack of conviction over the local market’s near-term trend.

SIAS Research says “uncertainty lingers” over the direction. After yesterday’s flattish close for the benchmark at 3244, it says the index’s uptrend support line lies at 3240. 

 

“If the support remains firm, we might see the STI moving higher over the next few days.” Yangzijiang Shipbuilding (BS6.SG) gains 3.0% to $2.07 in active trade after it said yesterday it secured 15 newbuild orders worth US$415.3 million ($535.1 million) in 4Q10. Ezra Holdings (5DN.SG) is up 0.6% at $1.82 in good volume after announcing fresh charters worth up to US$73 million and 1QFY11 results.