SG Market: Spore shares may rise, taking strength from positive session on Wall Street & higher regional bourses. Market appears to be tired of all the bad news & risk appetite appears to be returning with the STI filling the 3010-3020 gap & breaking past its 50-day moving average at 3035. A push to close the next downward gap at 3060-3070 would pave the way for a test at the Mar high of 3113 Support is now shifted to 3025, followed by 3010 & 3000.
3 S-chips biting the dust - China Gaoxian now asks for trading susp; auditors flags Anwell’s ability to continue as a going concern & Scorpio East requests for a trading halt. Tech stocks EDMI & SMB United also announced trading halts. Others stocks in focus include Moody’s highlight that industrial S-Reits' expansion into China poses risk & ST Engrg receiving termination notice & damages from Louis Dreyfus for botched ship building job.
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