STI is up 0.3% at 3253.43, with 1.50 billion shares worth $1.21 billion traded and around 1.3 winners per losers in the broader market.

Trading reflects some degree of relief after Portugal’s bond auction, but sentiment is still fairly tempered with the index dipping into negative territory earlier in the session. 

Technically, however, the STI is looking good with the 3,200 support level holding up in recent sessions, UOB KayHian says; “the index has retraced and tested this level as investors took profit in the last few trading sessions. We think this may be an opportunity for investors to load some positions as the index continues to trade above the two-moving averages (12-day and 25-day moving averages).” 

 

Still, the house tips the STI’s support at 3,200, with the next resistance at 3,300. Yangzijiang Shipbuilding (BS6.SG) is up 3.0% at $2.07 after Wednesday’s announcement of 15 newbuild orders worth US$415.3 million ($535.2 million). United Fiber System (P30.SG) is the most active stock, +20.0% at $0.06 after its proposed subscription of shares by Asia Star Fund.