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The STI is up 0.1% at 3240.94 in a modest rebound after two sessions of declines; gainers outnumber decliners two to one in the broad market, with 314 million shares worth $171 million traded so far.
UOB KayHian notes the STI continued to trade within its tight 30-point trading range yesterday, with noticeably lower volumes. “Market breadth indicators are looking weak, with the advance decline ratio at 0.6, while the index is barely hovering above the 26-day moving average. We maintain our neutral stance for the index in the near term.”
UOB KayHian notes the STI continued to trade within its tight 30-point trading range yesterday, with noticeably lower volumes. “Market breadth indicators are looking weak, with the advance decline ratio at 0.6, while the index is barely hovering above the 26-day moving average. We maintain our neutral stance for the index in the near term.”
Says support remains at 3200 while resistance is at 3300. SembCorp Marine (S51.SG) is up 1.2% at $5.20 after it says it secures a newbuilding and three major upgrading contracts totalling $215 million.
SGX (S68.SG) is down 0.1% at $8.42, as its 2QFY11 earnings, including a $7.5 million charge related to ASX-SGX transaction costs, come in slightly under consensus. SIA (C6L.SG) slips 0.1% to $15.26 in low volume, after weak December load factors.
