SG Market

SG Market: Spore shares are likely to rise following gains in US and European markets, which came amid some heartening data from the US and hopes a plan to recapitalize Europe's banks is in the works. Yday, the benchmark STI closed down 0.1% at 2528.71, taking its fall over the last 3 sessions to 6.5%. We may see a little bounce, but again the market still in sell-on-strength mode. Failure to clear its immediate hurdle at 2600 could see the index ease back to 2503. Corporate news is thin, but sectors to watch include offshore & marine, after benchmark oil futures surged 5.3% to US$79.68/bbl and technology component makers, after news that Apple's co-founder Steve Jobs passed away.