SG Market (23 / 5 / 12)

SG Market: S’pore shares are likely to stall as investors trim their exposure following the brief relief rally in global equities markets earlier this week with Greece now back in focus as a risk to eurozone stability. There is really not much in terms of local news flow at the moment, so we're just likely to take the lead of the Wall Street close. The STI is expected to find first support at the 2780 level with resistance around 2850. Cyclical stocks that benefited most from the relief rally such as NOL, Noble Group, Golden Agri, Wilmar and Olam are likely to be in focus. Construction firm makes its IPO debut after being 1.5x oversubscribed.