SG Market: S’pore shares are likely to open lower, tracking US and European markets' losses after the euro-zone debt crisis took centrestage again with investors dumping Spanish and Italian bonds amid skepticism over the austerity measures. Add in worries about China's imports, lack of monetary easing in Japan and cautious comments from Ben Bernanke, it spells for a tough day of trading for Asia. Immediate support for STI is seen at 2950 followed by 2915.
The risk-off attitude will likely dent the usual suspects, such as commodity plays Noble and Olam. DBS will likely be in focus after announcing plans to invest Rmb2.3b to expand its China unit.
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