* Index flat; near-term support seen at 3,043 pts
* Genting Singapore and Genting HK fall on profit-taking
By Eveline Danubrata
SINGAPORE, Sept 28 (Reuters) - Singapore shares were flat
at midday after Wall Street slipped overnight, prompting local
investors to take a break from a four-week rally, and are seen
range-bound in the afternoon, traders said.
By the lunch break, the Straits Times Index (STI) .FTSTI
inched 0.01 percent or 0.25 points higher to 3,113.71.
"I think we are taking the cue from Wall Street. We are
also already quite close to 3,200 and a lot of us see it as a
fundamental fair value for the STI," said Carey Wong, an
analyst at OCBC Investment Research.
"We do see more profit-taking pressures, especially if
Europe opens on the soft side," Wong said, adding that if the
STI falls below the 3,100 level, support may come in at 3,043.
Shares of casino operators Genting Singapore (GENS.SI) and
Genting Hong Kong (GENH.SI) were down on profit-taking and
after a brokerage said the current valuation for Genting Hong
Kong looks expensive.
At midday, shares of Genting Singapore were down 3 percent
at S$1.96. Nearly 76 million shares had changed hands.
Genting Hong Kong shares lost 5.3 percent to trade at
S$0.45 on a volume of 66 million shares.
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* Genting Singapore and Genting HK fall on profit-taking
By Eveline Danubrata
SINGAPORE, Sept 28 (Reuters) - Singapore shares were flat
at midday after Wall Street slipped overnight, prompting local
investors to take a break from a four-week rally, and are seen
range-bound in the afternoon, traders said.
By the lunch break, the Straits Times Index (STI) .FTSTI
inched 0.01 percent or 0.25 points higher to 3,113.71.
"I think we are taking the cue from Wall Street. We are
also already quite close to 3,200 and a lot of us see it as a
fundamental fair value for the STI," said Carey Wong, an
analyst at OCBC Investment Research.
"We do see more profit-taking pressures, especially if
Europe opens on the soft side," Wong said, adding that if the
STI falls below the 3,100 level, support may come in at 3,043.
Shares of casino operators Genting Singapore (GENS.SI) and
Genting Hong Kong (GENH.SI) were down on profit-taking and
after a brokerage said the current valuation for Genting Hong
Kong looks expensive.
At midday, shares of Genting Singapore were down 3 percent
at S$1.96. Nearly 76 million shares had changed hands.
Genting Hong Kong shares lost 5.3 percent to trade at
S$0.45 on a volume of 66 million shares.
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