30 May '11, 7am

Singapore stocks rise on bargain-hunting: it to rebound from recent losses, and also bought Mapletree Commercial...

On Monday 30 May 2011, 13:08 SGT * Index up 0.6 percent, resistance of 3,180 pts eyed * Mapletree Commercial rises after brokers' buy calls * COSCO Corp up after selling last week By Eveline Danubrata SINGAPORE, May 30 (Reuters) - Singapore shares rose at midday on Monday as investors sought bargains in Chinese shipbuilder COSCO, helping it to rebound from recent losses, and also bought Mapletree Commercial Trust after positive analysts' calls on the stock. By the lunch break, the STI was up 0.58 percent, or 18.31 points, at 3,153.83. The total value of shares traded in the morning session was S$490.2 million, around 41 percent lower than S$834.9 million on Friday. "STI had been trading at a tight range over the last three months owing to the lack of positive news. We expect investors to continue trading cautiously for this week," said Ng Kian Teck, an analyst at SIAS Rese...

Full article: http://sg.finance.yahoo.com/news/Singapore-Stocks-Up-midd...

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