Singapore shares mostly still under water but not likely to extend declines given firm US stock futures, gains in most Asian markets, according to Dow Jones.
STI off 0.2% at 3,204.89 at 2:40 p.m. vs morning low of 3,193.55, expected to hold above current 3,150 November trough.
“Some of my clients refuse to get out of the market. With global interest rates so low, they want to buy on pullbacks thinking the US economy will still grow. QE2 definitely helps,” says dealer at foreign brokerage. DJIA futures up 71 points in screen trade. Overall participation low, market volume light.
Most active stocks comprise good mix of large, small caps, including Genting Singapore (G13.SG), off 2.4% at $2.05, Top Global (519.SG), flat at $0.015, United Fiber System (P30.SG), off 10.0% at $0.045, Golden Agri-Resources (E5H.SG), off 2.1% at $0.715, Genting Hong Kong (S21.SG), off 2.2% at US$0.455.
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