SG Market: Spore shares could see a relief rebound after Wall Street finished well off its lows on Tues & with Nikkei rallying 6% this morning on the view that the situation at stricken Fukushima power plant may be stabilising. However, the situation remains very fluid & any adverse Jap headlines could cause volatility. Factional tension is also rising in the Mid-East with Saudi & GCC troops sweeping into Shiite majority but Sunni-ruled Bahrain.
STI closed down 2.8% to 2946, its lowest level since Aug 00, near a key base at around 2910-2920. For now, upside resistance tipped at 2965 & psychological 3000 level. Saizen REIT may stem some losses after it releases another update on its Japan properties. KepCorp may get a lift on news it secures a US$210m jackup contract from Japan Drilling Company, bringing total orders secured this yr to $4.4b, ahead of most forecasts.
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