SG Market: Spore shares set to fall as regional mkts tumble following Wall Street's sharp decline Tue, on fresh worries over the state of the US economy. The benchmark STI closed down 1.2% to 3177.09 Tue. Sharp drop in US mkts is quite unexpected, and the local mkt will remain very controlled by how the US does.
At the moment there's a very good chance (the STI) might head back to the 3100 level over the next few days, that's where there's a key support level and where this break (for the STI to reach a 5-month high) began. Tip initial support around 3150/3160. SGX will be in focus after it reports 4Q results, which continue to show weak operating revenues; Tiger Airways says Australia court proceedings on its suspension have been adjourned.
No comments:
Post a Comment