SG Market: Spore shares may open higher, tracking regional gains, but gains may lack conviction given lack of firm cues from US and Europe. Expect the market is likely sitting on its hands and wait for stronger leads from China, with talk that it may reduce banks' reserve requirement ratio and inject liquidity into the market. The question is whether China's domestic economy can offset reduced exports going to US and Europe. And with Beijing is still trying to cool the property market, it may be difficult to sustain the growth rate.
STI tipped to trade within the 2940-3000 range. SembMarine will be in focus after bagging a US$385.5m rig order. HKL and KepLand may also draw interest after media reports that MBFC landed new tenants.
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