SG Market: Spore shares may consolidate recent gains following Wall Street's stumble last night. With the market already is a grossly overbought situation, the profit-taking we saw yday is likely to continue today. Attention is reverting back to Europe where Greece’s problems are not resolved, Portugal is becoming an issue and Italy could be next.
Expect a a near-term pullback in the STI to around 2850, with 2900 as initial cap. Olam may rise on a Russian deal but Tiger Airways may face pressure after reporting a 3rd quarterly loss.
No comments:
Post a Comment