SG Market: Spore stocks are likely to recover some ground after US stocks snap a 6x-day losing streak on better than expected US trade data. While the STI has breached the psychological support at 3100 yday, the more positive overseas lead may push the index off the bottom of its recent trading range towards resistance at 3120 as most stocks at their lowest levels in 2 months & are in oversold territory.
News flow is fairly heavy today with vessel-build order wins for STX OSV, Yangzijiang & KepCorp. Keppel Land may also be in focus after acquiring a 7.2-ha residential site in Shanghai, while Tiger Airways may draw interest after it says its pax traffic rose 23% on year in May.
No comments:
Post a Comment