SG Market

SG Market: Spore shares are likely to drift without a clear direction following the rather mixed close on Wall Street. Downside risk for the benchmark STI is at 2680, which was close to being tested yday while resistance stands at 2760. Corporate newflow has virtually dried up following end of reporting season but oil-related counters may see some interest as oil prices firm up amid resurgent Mid-east tensions. Noble (may have found temp bottom), Yanlord (recent purchase by prominent shareholders) and STX OSV (new contract) remain in play.