SG Market

SG Market: Spore shares are expected to rebound following US markets 3rd gain in a row on upbeat durable goods data & hopes of additional Fed stimulus from Fri’s summit as well as firmer openings on regional bourses with Japan’s Nikkei, Australia’s ASX 200 & Korea’s Kopsi all up more than 1%. However, the formation of a bearish engulfing pattern yday may limit gains on the STI as investors remain wary of any surprises from the Fed this Fri. The STI is likely to take its cue from HK as there is little domestic news to stimulate the market. Topside resistance remains at 2820 with support at 2680. On the corporate front, both 4Q results from Raffles Edu & PEC disappointed.