Wednesday, February 23, 2011

SG Market

SG Market: Spore shares are likely to continue its decline, tracking steep falls in US stocks as geopolitical tensions in the Mid-East & North Africa jacked up oil prices, adding to inflationary concerns & hurting investor risk appetite. Local stocks could also face a wave of margin calls, which were triggered by yday’s drop. The STI has broken below the 3040 support as well as 200-day MA with 3000 now seen as the psychological support with firmer base at 2920.

Genting Spore (Ebitda in-line), Wilmar (poor 4Q earnings), Cosco (earnings above expectations), Sino Grandess (meet estimates), GMG Global, UOL will be in focus after reporting 4Q results.

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