Singapore shares edge higher as STI adds 3.4% on week

I T WAS a largely positive week for investors in Asia. But one can't help but feel it was a wee bit better for the Singapore market than the rest of Asia.

It could have been due to rotational interest as the Singapore market, which had lagged its regional peers, played catch up. The Straits Times Index (STI) closed 6.43 points or 0.2 per cent up at 3,322.64 on Friday. For the week, it gained 109.76 points or 3.4 per cent.

Having breached the 3,300-point mark, CMC Markets' Margaret Yang reckoned the STI can go on to test the next resistance level at 3,400 if companies on the benchmark index are able to post improved Q1 earnings during the upcoming quarterly reporting season.