SG Market: Big gains on Wall Street following positive US mfg data should pave way for strong opening for Spore shares, enabling STI to head above 3000 for 1st time in more than 3 weeks. Resistance expected at 3040 double top. Market technicals turning positive after breaking past 50-day MA at 2950. High-beta plays like NOL, Genting Spore, Golden Agri may be key percentage gainers among STI components.
Whether expected uptick able to last in days ahead or just mere blip will hinge largely on Friday's US August non-arm payrolls report. Stocks to watch: Baker Tech/YZJ, banks, Renewable Energy & energy plays.
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