STI May Open Up But Retreat Later On Short Sales

Dow Jones] Singapore stocks may repeat Wednesday's pattern of opening higher, aided up further pullback in oil prices, and giving up gains later in day, as Wall Street's mixed performance overnight not expected to offer any clear direction for investors. Market volume likely to remain thin as players lie low given lack of leads. "I think nothing much is going to happen. People are shorting at every available opportunity. The market is more inclined towards short positions," says local house trader. Immediate support for STI at 3100, resistance at 3180; closed down 0.6% at 3134.80 yesterday.