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Singapore shares tad higher, in line with gains across Asia after Wall Street’s positive close Friday, says Dow Jones.
Benchmark STI +0.5% at 3169.24; may be capped at year-to-date high of 3197. Broker at local house says further upside likely limited; “the market is pretty cautious right now, looking at the technicals it seems overbought, so it’s not likely to go much higher.
Benchmark STI +0.5% at 3169.24; may be capped at year-to-date high of 3197. Broker at local house says further upside likely limited; “the market is pretty cautious right now, looking at the technicals it seems overbought, so it’s not likely to go much higher.
There’s definitely some caution in the air now that the Dow (Jones Industrial Average) has gone over 11,000. Current levels here seem priced for perfection.”
Separately, another local trader says market focussed firmly on upcoming corporate earnings, which kick off this week. Among actives; Biosensors (B20.SG) +7.0% at $1.07 on hopes for general offer after Autumn Eagle discloses it's buying 29.47% stake in company; GoldenAgri (E5H.SG) +5.2% at $0.6005, Genting Singapore (G13.SG) +3.0% at $2.04.
About 3.5 gainers for every loser in broad market; 636 million shares traded so far.