SG Market: Spore shares are likely to slip, tracking losses in regional markets and directionless Wall Street. Immediate support seen at 2640 area, with the next major support at around 2600, while upside resistance is at 2680.
Oil-related plays such as SembMarine and Ezra are likely to get support after oil prices jumped on Wed. Retail and office REITs, such as CapitaMall Trust and K-Reit may face pressure after the BT reported retail rents are likely to stay flat and office landlords are sweetening deals. Noble Is said to have given nod to Gloucester-Yanzhou deal, while CWT may acquire MF Global’s Spore unit after hiring a number of staff.
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