Singapore’s STI pares most of its early gains, ending the morning session flattish at 3187.23, off an earlier high of 3207.66, with trade forming a similar pattern to Monday, when an opening gap in the index was filled nearly immediately. 

“There remains the near term regional worries over the old issues of last week, namely monetary tightening in China, which is still an overhang for investors. For funds it’s a case of taking money off the table as we’ve done well as a region,” says CIMB economist Song Seng Wun. 

 

962 million shares have been traded worth $814 million, with over two decliners per gainer in the broad market. Keppel Land (K17.SG) is +2.2% at $4.67 after reporting an eight-fold on-year increase in 4Q net profit.

 

Genting Singapore (G13.SG) is the most active stock, shedding 1.9% to $2.08. For the STI, 3180 may provide some near-term support, while levels above 3200 and 3220 are likely to cap gains.