SG Market: Spore shares may reverse its 2-day uptrend after Wall Street declined last Fri amid European jitters over possible downgrade of Italian banks & upcoming vote on Greek austerity measures. Friday, the benchmark STI closed +0.7% at 3066.85, gaining 2.0% last week. The market is expected to remain sluggish as investors are still wary with so many adverse news weighing although some glimmer of hope on China’s inflation & lower crude prices nay forestall any aggressive sell-offs.
Watch out for news from logistics firm CWT after it requests a trading halt pending an announcement. Thinly traded construction firm Lee Kim Tah may see increased activity after winning a $90m condominium construction project. Analysts expect the STI to trade within a 3000-3080 range near term.
No comments:
Post a Comment