Singapore’s STI is down 0.4% at 3230.00, tracking the declines on Wall Street and lower regional markets, with two fallers for every gainer on the broad market and 446 million shares traded worth $422 million.

The benchmark index remains within its recent 60-point trading range, with all eyes on China’s 4Q data due 10:00 a.m. for further cues; a bullish growth number is likely to be taken negatively by investors, more like a red flag to more tightening from Beijing. 

 

Phillip Securities says the STI could react to the Chinese numbers, “so heads up.” The house notes, “current technicals do not look too great in the short term with yesterday’s high rejecting resistance in the 3257/58 region.”

 

House reiterates the importance of support at 3220-3225, which is currently being tested; says resistance is around 3257. First Resources (EB5.SG) falls 7.5% to $1.48 after its major shareholder places 75 million shares at $1.48/share; CapitaMall Trust (C38U.SG) is flat at $1.90, in muted response to its 4Q earnings, which is flat on quarter.