SG Market: Spore shares are likely to open lower, tracking losses in most regional bourses and as the market digests the index's climb above the key 2910 resistance level last Fri. But the reopening of China's stock markets after last week's closure for the Lunar New Year holiday will likely be closely watched but until a deal is finally struck, Greece's debt issues will remain a source of uncertainty and might dampen the risk mood ahead of the EU summit today.
With the STI breaching above 2900 resistance, the next upside target is now tipped at the psychological 3000 level. However, a temporary pullback may not be unwarranted given the extreme overbought nature of the market with stochastics indicators above 90 and RSI at the 72 mark. CapitaRetail China Trust and Parkway Life Reit may be in focus after releasing results.
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