15 Feb '13, 5am

MARKET COMMENT: Singapore's STI Down 0.4%; 3270 Likely Support: 0455 GMT [Dow Jones] Singapore's STI is down 0.4...

0455 GMT [Dow Jones] Singapore's STI is down 0.4% at 3277.09, extending losses slightly. "The fundamentals are quite okay. The index is at high levels. We're seeing a bit of profit-taking. It's slightly toppish," says Ng Kian Teck, an analyst at SIAS Research. "Right now, the market is trying to adjust itself to the correct level." Volume remains skewed to the penny plays, with 4.00 billion shares valued at S$875.7 million changing hands; gainers and losers are evenly matched in the broader market. 3270 is likely to offer support. OCBC (O39.SG) is down 1.0% at S$9.93 after reporting its 4Q12 net profit rose 12% on-year to S$663 million. Among peers, UOB (U11.SG), which is due to report results on Feb. 27, and DBS (D05.SG), which has already reported, are down 0.1% each. Myanmar play Yoma (Z59.SG) is up 7.5% at S$0.865 in high volume after entering an MOU with Mitsubishi Mo...

Full article: http://www.foxbusiness.com/news/2013/02/15/market-comment...

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