The STI is +0.6% at 3274.16 midday, with 2.2 gainers per decliner and 1.18 billion shares traded in the broad market as Wall Street’s rise Wednesday on positive U.S. economic indicators has given a boost to a market searching for reasons to push higher.
UOB KayHian notes the STI held above 3200 for the third-straight day yesterday, and has crossed above the 50-day moving average of 3150, “a sign that the bears have not overwhelmed the bulls after a widely-anticipated head and shoulder formation in December.”