01 Apr '13, 2am

MARKET COMMENT: Singapore's STI Flat;May Still Challenge 3320-Phillip: Singapore traders are shuffling penny p...

Singapore traders are shuffling penny plays, with the STI wavering between positive and negative, lacking cues with several of the region's major markets still shuttered for an Easter Monday holiday. The STI is down 0.5 point at 3307.60. "Markets have shrugged off the fiscal uncertainties in the U.S. and eurozone as well as Pyongyang's recent aggressive rhetoric," says Ng Weiwen, macro analyst at Phillip Securities, in a note. As long as the STI stays above its key 3250 support, it is likely to challenge its 3320 resistance, he says. Volume is 799.3 million shares valued at S$231.9 million; in the broader market, gainers slightly outnumber losers. The heavily weighted banking trio is lower after rallying 3.0%-4.8% last week, with UOB (U11.SG), OCBC (O39.SG) and DBS (D05.SG) down 0.6%-1.2%. City Developments (C09.SG) is down 0.2% at S$11.31 after data showed Singapore priva...

Full article: http://www.foxbusiness.com/news/2013/03/31/market-comment...

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Market Comment: Singapore's Sti Flat;may Still ...

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Market Comment: Singapore's Sti Flat;may Still Challenge 3320-Phillip

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