On 01/Mar, Singapore shares end higher Tuesday as negative surveys on China’s manufacturing growth eased fears of further policy tightening.

STI ended higher at 3067.60 (1.9%) with LOW VOL of 1.63 billion shares traded compared with 1.50 billion shares Tuesday. In the broader market, losers outnumbered gainers 405 to 116.  Although the trading volume is not really impressive but overall market got boosted as STI broke its critical resistance at 3040.

Headline in STI

Before market close

Mindray Medical International Ltd.’s (MR, K3QD.SG) 4Q earnings rose 9.7% as Chinese medical-device maker continued to strengthen its international sales.

Cosco Corp. (F83.SG) won a contract worth US$130 million to construct two tender drilling rigs from SeaDrill Ltd. (SDRL).

Technical Analysis on STI

Immediate Resistance of STI: 3120

Immediate Support of STI: 3040

MY sentiment on STI:  Now that STI has broken its critical resistance ...