SG Market: Spore shares are likely to rebound from its deeply oversold levels following fresh news that IMF is working on a €600b rescue loan package for Italy, sending the S&P futures 1.8% higher. Focus will be on the blue chips, cyclicals and high beta stocks with resistance for STI pegged at 2700 followed by 2720 levels. Bottomside support is seen at 2600.
On the corporate front, Sakari Resources may take a hit from the collapse of a bridge on the Mahakam River, which is a majot conduit for coal barge traffic to and from upstream mines, including its Jambayan mine. Tightening regulations on casino adverts and promotions targeting locals may also dampen buying sentiment on Genting Spore.
No comments:
Post a Comment