STI Mid-day summary

Mid-day summary: Singapore stocks generally still firm. Fair bit of momentum in market, with small caps, S-chips continuing to lead gains. Blue chips being sidelined, with developers underperforming after fresh official data released during midday break showed developers sold fewer homes in Aug, at 1248 vs 1549 in Jul. Market breadth at 2.4 gainers for every decliner. If ytd high of 3068 gives way, next resistance for STI expected at lower end of 3085-3146 breakdown gap formed in Jun ‘08.