0029 GMT [Dow Jones] Singapore shares may edge higher after Wall Street closed up for fourth straight session (DJIA +0.5%). Regional cues also suggest upward bias with Nikkei 0.7% at open; Kospi, ASX also higher. Resistance for STI tipped at year-to-date highest close of 2,681 (hit Aug. 3); STI closed down 0.4% at 2,650.48 yesterday. Strategist at local house says Singapore market looks "rangebound" near-term; "the market tends to be quiet around this time of year, though things could pick up in November when people start looking forward to 2010 economic growth and the opening of the integrated resorts." Newsflow still thin, though Genting Singapore (G13.SG) in focus, may slip on dilution concerns, as shares resume trading after announcement of rights issue.
Dow Jones Newswires
September 09, 2009 20:29 ET (00:29 GMT)
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