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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: StanX Long who wrote (56645)	11/30/2001 3:43:40 AM
From: StanX Long	Read Replies (1) \| Respond to of 70976

Friday November 30, 1:03 PM Singapore shares jump by midday but pullback looms sg.news.yahoo.com SINGAPORE (Reuters) - Singapore shares extended their gains by midday on Friday as banks pedalled higher in line with Wall Street's rise, but some market watchers expected a phase of slight consolidation soon. The benchmark Straits Times Index was up 1.69 percent at 1,479.04 points at the break, off a high of 1,483.15. Turnover was fair at 203 million shares. Top net gainer UOB Bank jumped 3.67 percent to S$11.30. Computer peripherals maker Creative Technology added 2.92 percent to S$14.10. Index-linked shares, particularly banks, had risen ahead of Morgan Stanley Capital International's (MSCI) index rebalancing after the market close on Friday but that boost started to wane in the past few sessions. "It's proved that the 1,500-point level is a very strong resistance. Now that the MSCI theme is getting a bit boring in the market, I expect we will see a less bullish market from now on," said an analyst at a local brokerage. The STI has closed above 1,500 points only once since the September 11 attacks on the United States. Top active Frontline Technology was down 1.5 cents at S$0.28, against a low of S$0.275, in volume of more than 44 million shares. Traders said a married deal of 23 million shares at S$0.275 in early trade induced activity.