SINGAPORE (July 3): Support at the 2,620 area has held for the Straits Times Index, as has its 50-day moving average — currently at 2,607. On July 3, the STI closed at 2,652. The moving average has turned up since the week of June 22–26, and the index has moved above and away from the indicator. These are positive signs for the STI. In addition, quarterly momentum, which had retreated towards its equilibrium line, has bounced off this level (see chart 1).

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