SG Markets: Spore shares are likely to trade sideways as caution over the global economic outlook remains, though some upside may come as buyers pick up stocks that have been sold down heavily recently. Wed, the benchmark STI closed down 1.5% at 3130.34, taking its two-session fall to 2.6%, so people will be buying for the short-term bounce, but don't see any strong buying yet.
Wed's gains on Wall Street compared to the recent falls was seen as a weak bounce, with a lot of reasons for the mkt to remain cautious. STI is tipped at a 3100-3160 range. Large caps CapitaLand, OCBC and HPH Trust will be in focus after reporting Apr-Jun qtr results.
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