Thursday, August 18, 2011

SG Market

SG Market: Spore shares are likely to open with a downward bias following a mixed close on Wall Street as global concerns continue to dampen sentiment. Newsflow has virtually dried up with the end of the corporate reporting season & there is no fresh leads to take the STI to higher ground. Support is tipped at 2780, then 2720 with immediate resistance at 2890.

Tiger Airways may face further downside pressure after breaching the $1.00 support after Thai Airways Chairman indicated that the Thai carrier may not pursue its low cost carrier JV with TAH. In other news, CapitaLand may be in focus after acquiring the remaining 50% stake in a Shanghai office building for $56m.

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