Singapore shares set for firm trading path

Singapore shares are likely to trade on a firm note in the week ahead against the backdrop of the economy's strong performance, dealers said.
Investor confidence in Southeast Asia's wealthiest economy with official growth targets for 2006 raised to 7.5-8.0 percent in 2006 from 6.5-7.5 percent, dealers said.
"The underlying tone of the market remains quite firm," the local brokerage dealer said.
The main Straits Times Index set a new closing high of 2,840.94 points early this week as investors bought into the Singapore growth story, dealers said.
Another new record closing for the index cannot be ruled out as blue chips on the local bourse are still regarded as under-valued, said another dealer at a local brokerage.
For the week ending December 1, the Straits Times Index closed at 2,836.04 points, up 21.23 points or 0.75 percent over the previous week.
Over the past week, average daily volume was 1.41 billion shares worth 1.36 billion Singapore dollars (883 million US) compared with 1.56 billion shares valued at 1.38 billion dollars the previous week.