SG Market: Spore shares appear set for an auspicious final trading day before the Lunar New Year, likely tracking Wall Street and European gains and advances in regional markets as confidence gets a big boost from encouraging US jobs data and successful European debt auctions. But analysts are cautious about getting swept up by the optimism, noting Greek debt talks remain a sticky wicket. With such upbeat news coming from all sides, some market watchers warn that perhaps this is the time to start worrying as investors seem to have forgotten the fundamentals have not changed in the global economy and there is still a long way to go on the road to recovery.
For the STI, resistance is seen at the 2850 breakdown gap with support at 2793 level. Positive US earnings reports from financial and tech sector players may boost these sectors. Keppel Land may be in focus after reporting over $1b profit for the 2nd time in a row with a bumper 20¢ DPS declared. Other S-Reits like Ascott Residence Trust, Suntec, Mapletree Logistics, CCT all posted unsurprising 4Q results
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