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STI uptrend over, short-term trend down, says CIMB

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Singapore shares reversed earlier gains as regional pullback deepens amid continued concern over ripples from Europe debt woes.

The STI is off 0.6% at 2,667.39 vs its morning high of 2,700.85 (+0.6%), with the index on track to finish at two-month low with next psychological support tipped at 2,650.

Inconclusive US pre-market futures did little to lift mood (S&P 500 down 1.5 points, DJIA +5 points).

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