Spore market: may take cue from the weak Europe (down 2-3% yday) and US (down ~1%) markets overnight to open lower today.
In regional markets, KOSPI and Nikkei are down 0.7% and 0.6% rptvly at 8.05am.
Expect Spore to see more trading volatility post the HK open, after it was closed yday for Ching Ming, and as HK traders adjust their positions in view of the long Easter wkend ahead.
Technically, the STI has started to dip down, after failing to break the ~3030 resistance for 3rd time. The 50day MA at 2977 is likely to offer little support at this stage, given the steadily downward trending key indicators. If a pullback materializes over the next few wks, expect firmer support closer toward the 2920 levels.
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