Singapore’s STI remains up 0.1% at 3251.71 with 1.08 billion shares traded worth $1.14 billion and 1.7 gainers for every decliner on the SGX. 18 STI names are higher and 12 lower. 

After the strong gains made since just before Christmas, the index looks set to remain in its current consolidation mode, and stay in the 3220-3260 range it has traded in for the last six sessions. 

 

UOB KayHian says market volumes appear to be tapering off, and “near term consolidation seems to be the theme going forward. We reiterate our neutral stance on the index, support remains at 3200 while resistance is at 3300.”

 

REITS are broadly higher, with CapitaCommercial Trust (C61U.SG) +0.7% at $1.52 after reporting 4Q results. Banks are up, led by DBS (D05.SG), +1.0% at $14.90. Rig builders are higher, with SembCorp Industries (U96.SG) +1.4% at $5.18. Palm plays gain, with First Resources (EB5.SG) +1.3% at $1.59, while property plays mostly fall, with GLP (MC0.SG) off 1.4% at $2.11.