SG Market: Spore shares are set to gap lower after Wall Street's rout last night amid mounting unrest in oil-rich Saudi Arabia, resurfacing debt problems in Europe & worries over China & US growth. With not much corporate news to bolster the market & technicals looking toppish, the STI is likely to head back below the 200-day MA at 3063 with support at 2965. Oil & gas names may see get some support after Indonesia waived the cabotage for oil & gas industry.
In other news, Swiber won a US$125m pipeline contract while KepCorp secured 2 shipbuilding contracts worth at $170m.
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