Singapore shares may look for fresh leads

Singapore shares are expected to look for fresh leads to extend their gains, with concerns over the economy likely to weigh on sentiment, dealers said. The blue chip Straits Times Index rose for the third straight session to close at 2,317.95 on Friday, up 44.77 points, or 1.97 percent, from the week before.
"For the near term, I think the index will stay within a range of 2,250 to maybe 2,350 or 2,400, which is where it has traded for most of this month," a dealer with a foreign brokerage said. "To me, any further upside should not be too much above 2,400." Signs of a recovery for the recession-hit Singapore economy appear tentative, according to the latest data.