STI

STI: Down 0.6% at 3126.46 amid lower regional markets, after Wall Street's fall after S&P cut its outlook on US govt debt and warned about a weak US fiscal profile. Phillip Securities note that ‘the negative close and not-so-good sentiment from the US session is likely to spill over into the Asian session as a whole today, placing downward pressure on the STI in the process.…..

Add that a push below the support zone at 3133/3125 would give the STI more directional impetus, with next support at 3100/3095 and then 3080/3075; resistance is at 3150 before 3179/3187. Market vol is fairly low, at 153m shares worth $190m, with around three decliners per gainer. SGX is down 1.4% after its weaker-than-expected 3Q results, OCBC is off 2.5%, StarHub is down 2.5% and Golden Agri falls 1.4%. There are 15 decliners in the 30-stock STI benchmark.