SG Market

SG Market: Spore shares may rise after a positive close on Wall Street, but gains are likely to be capped as sentiment has yet to fully recover from recent market shocks. The STI is likely to gain some ground with the 1st resistance stop at around the 2910-20 level while support may be at 2780. SIA could be in focus, after the carrier reports its Jul passenger & overall load factors had eased from a year ago as capacity outgrew demand. Ezra, Swiber, United Environtech, OKP may all come into play following contract awards. Property stocks may also enjoy a slight reprieve from surprisingly strong private home sales in Jul, which surged 40% to 1,954 units (incl ECs), ahead of the Hungry Ghost Month. Giving the O&M sector a boost of confidence, Keppel Corp CEO suggested the group may win higher rig prices because of rising raw material costs & increasing investment in exploration that has helped it post record orders this year.