SG Market: Spore shares may stumble at the open despite Wall Street's positive lead after breaking the key 3000 support. Despite more bullish US sentiment, the local market appears to be showing signs of nervousness and finally capitulated yday despite a strong start as profit-taking and caution about China's projected slowdown over loan and housing data took hold. Market players are also sidelined by concerns over rising oil prices.
Having covered the gap at 2993, the next support for the STI lies at around 2955, while the 3000 level now acts as resistance. STX OSV is likely to continue its uptrend after landing 2 contracts valued at $252m. GLP may also be in the limelight after forming a 50/50 JV with Mitsui Fudosan to develop a multi-tenant logistics facility in Japan.
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