SG Market

SG Market: Spore shares expected to play catch-up after missing out strong advances on Wall Street & regional bourses on expectations of policy stimulus from the Fed amid more gloomy economic data. The Spore exchange was closed on Tues for a public holiday, a day which saw most regional bourses end higher following strong gains on Wall Street on Mon with HK putting in quite a strong performance, rising 1.7%, so we may expect the STI to gain that much and close the breakdown gap at 2820 set on Aug 18 with next line of resistance at 2890. Technical indicators are also pointing up, suggesting positive short term momentum. Olam may be in focus after posting robust 4Q results with net profit +38% while sales volume jumped 24.3%. Wing Tai 4Q results were in line, largely due to revaluation gains. OKP and Chip Eng Seng may also be in limelight after both announced contract wins.