SG Market: Spore shares are likely to open weaker after falls on Wall Street last Fri on disappointing US jobs data. Resistance for the STI lies at the 8-mth downtrend line at 3160 with 20-day MA providing underlying support at around 3110. The STI is likely to face some downward bias unless it can clear the 3160 hurdle. Hsu Fu Chi resumes trades after news Nestle is proposing to acquire a 60% stake the China-based confectionery group @ $4.35.
STX OSV also in focus after parent STX Europe sold its 18.27% stake to a fund @ $1.33, reducing its holdings to 51%.
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