SingTel (Z74.SG) is outperforming the market after fiscal 3Q10 results beat market expectations slightly, with shares up 2% at S$3.01 vs flat STI.
Its resistance at 30-day moving average of $3.02 was tested earlier and may well prove to be the near-term cap looking at order book quotes.
Telco’s 3Q10 net profit gained 24% on-year to $990.7 million, driven by stronger AUD and increased contribution from regional associates.