SG Market: Spore shares are likely to tracking US, European and regional markets higher on better-than-expected manufacturing data globally. While Spore's PMI contracted, partly due to supply chain disruptions in Thailand, feedback from manufacturers shows most are cautiously optimistic activity will pick up. Spore's electronics PMI returned to growth territory, which is a key stock-market indicator.
With retail confidence returning to the market, interest will continue to focus on small-caps. Genting Spore will be in play today after Las Vegas Sands reported strong earnings from Marina Bay Sand with revenue +44% and adjusted profit +40%. STI is expected to hold above 2900, with the 2916 year-to-date high the next key hurdle.
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