SG Market: Spore shares are expected to fall following Wall Street's tumble which came after US investors were left cold by the Fed's post-meeting announcement, in which it detailed a much-anticipated plan to suppress long-term borrowing costs, dubbed ''Operation Twist.'' But nothing more The central bank also cast a downbeat view of the world''s largest economy, mentioning "significant downside risks." The local market is going to take our cue from the US, so it is definitely going to be a down day, followed by Europe likely falling as well. Initial support for the STI is tipped at 2720 with upside resistance at 2820.
Corporate news is thin, but selling could be concentrated in cyclical plays, such as offshore and marine, especially after benchmark oil prices dropped 1.2% to US$85.92/bbl. Banks may also be pressured after US financial stocks fell sharply