SG Market

SG Market: Spore shares may take a slightly negative lead from the US, where stocks slipped a day after the DJIA notched its biggest advance of the year. The benchmark STI still appears trapped within the huge triangle set-up since May last year with resistance tipped at 3150 (near the 200-day MA) & support at 3040. Immediate support is at the 3100 level where the 20 & 50-day MAs are converging. Tiger Airways will be in focus it spiked up 13.5% in the last hr of trading on various rumour, ranging from parent SIA pumping in new equity (subsequently denied by SIA) to new business opportunities & lifting of Australian flight ban. Keppel Land may come under some pressure after 2Q results fell short of expectations with net profit - 64.9% yoy, mainly due to a revised accounting policy & lower property sales.