On 01/Aug, Singapore shares ended higher as U.S. President Obama confirm on the agreement to lift the nation’s debt ceiling.

STI ended higher at 3215.27 (0.8%) with regular VOL of 1.46 billion shares traded compared with 1.75 billion shares Friday. In the broader market, gainers outnumbered losers 347 to 186. Despite of the strong rally in the STI but the overall buying pressure and poor market breadth affirms that investors are reluctant to buy any higher.

Headline in STI

Before market close

Tiger Airways Ltd. (J7X.SG) has applied with Australia’s Civil Aviation Safety Authority to further adjourn an Australian Federal Court proceeding to Aug. 3 from Aug. 1 on the suspension of the low-cost carrier’s operations.

After market close

Cosco Corp. (F83.SG) 2Q net profit fell 53% to S$31.9 million compared with S$68.4 million a year ago due weaker performance of ...