The STI is down 0.1% at 2341.46 midday, just off its intraday low with lackluster volume of 845 million shares worth $6274 million traded. Most interest is seen in lower liners; the FTSE fledgling index rises 0.2% and the small cap index climbs 0.1%. 

Today’s most active stock is sports shoe sole manufacturer Qingmei (KT9.SG), up 7.9% at S$0.340. DBS Vickers says it keeps its technical view for the STI at 3438 by 1Q11, and that its near-term view that the STI “may pause for a breather around mid-January is also panning out.” 

 

It tips near-term support at 3200, resistance at 3310, and prefers banks, offshore yards and selective laggards. Singapore Press Holdings (T39.SG) is flat at $3.98 in sluggish volume, as its 1Q FY11 results largely meet analysts’ expectations. Banks and property developers are mixed after falling Friday on new property cooling measures, with weak volume likely due to investors’ anticipation of quarterly results, which will start to roll in over next couple of weeks.