Singapore shares may edge higher, helped by modest gains on Wall Street despite more disappointing US economic reports, though participation could remain low as investors await more data, including US weekly jobless claims due later Thursday, before deciding next move, according to Dow Jones.

Resistance for STI, which closed +0.1% at 2,926.55 yesterday, tipped at last week’s 2,952 high, while support remains at 2,900. “Stocks here may be able to gain some ground. The blue chips, at least, managed to close slightly higher yesterday despite the weak US existing home sales report on Tuesday. It could be an indication that shares have already priced in negative data,” says dealer at foreign brokerage.

Olam (O32.SG) may be in focus as commodities trader due to report FY4Q results in midday break; closed +0.4% at $2.49.

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