SG Market

SG Market: Spore shares have a weak lead from Wall Street, where stocks fell amid continued nervousness as US debt talks drag on in Washington as the deadline for a deal creeps closer. The raising of the US debt ceiling continues to remain as the forefront issue in many investors' minds & the failure to do so by Aug 2 would have drastic consequences. Thus, until this political deadlock is settled, we should see limited gains in equities in the short-term despite the release of decent earning reports. CDL Hospitality Trusts may be in focus after its 2Q results, also Tiger Airways after it reiterates it plans to increase its fleet to 20 aircraft. Genting Spore could see some visibility from earnings results at rival casino Marina Bay Sands, where EBITDA rose 42.5% on quarter to US$405.5m. Analysts tip support for the STI at 3160 with resistance at 3200.