SG Market

SG Market: Spore shares are likely to remain under pressure following sharp falls in European bourses with US markets were closed for Labor Day, amid rising fears over the eurozone sovereign debt crisis and global economic growth. Despite the late bounce yday, analysts expect the STI to re-test Aug low of 2680 near-term; a breach of that level may take it towards 2600. With US futures all in the red, US market is likely to follow on from the appalling trading session seen in Europe. Energy and materials related industries will be under the pump as well with crude oil prices sliding 2.3% to US$83.60/bbl." Corporate news is thin on local front with 2 stocks – Aussino, Sun East and Centillion placed on the Watch-List.