SG Market

S’pore shares may open lower following Wall Street's 96-point pullback overnight in response to weaker-than-expected US private-sector employment data and risk of Moody’s credit rating downgrade for Spain. Support for STI tipped at 2,802 200-day moving average after index closed up 0.2% at 2,835 on window dressing. Developers may be in focus as flash estimates of 2Q10 S'pore private home prices expected to be announced at midday, likely showing continued moderation in prices on quarter after +5.6% in 1Q10, +7.4% in 4Q09.