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STI Singapore Slumps - 3300 a Key Level

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Publish date: Mon, 11 Mar 2013, 12:21 PM
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Singapore's STI is down 0.42 point at 3,289.11, wavering between positive and negative, shrugging off positive US jobs data.


"It's partly because last week, the overall market was doing quite well. It's just taking a breather," says Jonathan Ng, deputy head of research at CIMB.



Phillip Securities tips 3,300 as key; "the battle will continue at the 3,300 level which the STI needs to decisively overcome in order to surge higher," it says in a note; it tips 3,250 and 3,200 as near-term supports.



Volume is 815.6 million shares valued at $313.8 million; in the broader market, gainers top losers 1.4 to one.


SPH (T39.SG) is up 2.9% at $4.29 in strong volume after the newspaper publisher said it is planning to list its Singapore properties in a REIT. Ascendas REIT (A17U.SG) is down 3.0% at $2.57 after raising $406.4 million by selling 160 million new units at $2.54 each to fund acquisitions.


ThaiBev (Y92.SG) is up 1.6% at $0.62 in high volume accounting for around 6% of shares traded on the SGX, extending Friday's 7.0% rise after news it would be included in the STI from March 18.
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