SingTel

SingTel +2.2% at $2.82, as buyers start to nibble after recent weakness spurred by broad market fall, substantial FX exposure, rising competitive pressures & regulatory challenges facing the telco and its associates. SGD has appreciated about 10% against AUD where 44% of core earnings derived from Aust unit Optus, +3% against Indian Rs (Bharti) & 1% against Indon Rp (Telkomsel). Current gains not accompanied by firm volume, suggesting sentiment still guarded. Resistance at prev support at $2.90