SG Market: Spore shares are likely to track Wall Street, which posted their biggest gain in more than 2 mths. On the technical front, the STI is in no man’s land at 3050 & needs a heavy volume breakout, otherwise we could see its 200-day MA flip down for the 1st time since the 2008 crash. However, with decreasing volumes in recent sessions, a bullish breakout seems remote. Analysts tip resistance at 3080; support at 3000.
Banks are likely in focus after the MAS introduced tougher raised capital adequacy rules than the Basel III req.
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