Singapore shares to trade cautiously

Singapore shares are expected to trade cautiously next week as investors wait to have a clearer sense of the impact of the ongoing crisis in the US subprime housing loan market, analysts said.
For the week ended September 21, the Straits Times Index (STI) rose 5.82 points, or 0.16 percent, to settle at 3,542.22. Average daily volume totalled 2.03 billion shares worth 2.31 billion Singapore dollars (1.54 billion US), compared with 2.40 billion shares valued at 2.14 billion dollars the previous week.
Based on technical charts, the STI should fall to a support level of around 3,500-3,510 points before rebounding, Ajith said.