SG Market: Spore shares have weak offshore leads after Wall Street pulled back on Mon and as regional markets open softer, amid worries that Italy may not be able to implement austerity measures, sending Italian bond yields higher and eroding investors' risk appetite. Developments from Europe continue to weigh heavily on markets; Italy is the focus of worry, but also news of Germany's ruling party approved a principle for nations to exit the euro zone, creating the possibility of a two-speed Europe is further dampening investors' sentiment.
Olam will be in focus and could outperform after reporting a 15% yoy rise in net profit despite a drag in income from cotton contracts. Other stocks trading post 3Q results today include Tiger, Swiber, Ezion, Midas, Comfort, STX OSV, Amtek, Oceanus, Hutchinson Port, Sunvic . Support for STI tipped at 2760.
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