Singapore shares may run out of steam next week as investor optimism wanes amid a dearth of fresh positive leads, dealers said Friday.
The main Straits Times Index ended the week at 1,577.52 points, up 64.4 points or 4.26 percent from 1,513.12 the previous week.
Average volume traded totalled 1.06 billion shares worth 798 million Singapore dollars (518 million US), compared with 1.03 billion shares worth 921 million dollars the previous week.
The index fell near to six-year lows on March 9, but rebounded strongly later in the week along with other Asian markets following an extended rally in US stocks.
However, there are doubts whether the optimism can last.
"Whether we keep going up early next week, I'm doubtful, although I do think we are looking a lot healthier," said Ric Klusman, senior institutional trader at Aequs Securities, as quoted by Dow Jones Newswires.
US retail sales slipped 0.1 percent in February from the previous month but spending patterns were better than expected, with most of the drop linked to auto sales, according to a US government report.
"The downward slide appears to be levelling out," said Macquarie Private Wealth adviser Helen Spencer in Australia.
"Signs of a levelling out or even a bottoming out are what the market is keenly looking for, and certainly some of those statistics are starting to be a little bit more positive than expected."
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