SG Market: Spore shares are likely to follow bearish leads after Wall Street's weak close on Wed, which was attributed partly to worries over US banks' exposure to the European debt situation. However, trade is likely to be volatile with the euro zone remains the wild card, and sentiment jittery over the looming Nov 23 deadline for US Congress super-committee to come up with a US$1.2t deficit reduction deal.
Rigbuilders Keppel Corp and Sembcorp Marine could see buying interest, as well as the whole offshore & marine sector, after US crude oil futures surged 3.2% to US$102.50/bbl, a 5 ½-month high. Keppel also announced 2 contracts from Indon customers worth $47m. Support for the STI is tipped at 2760; resistance at 2910.
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