Friday, September 23, 2011
SG Market: Spore shares are likely to see further bloodshed following the global rout yday on flight from risk. Interestingly, of the 24 developed markets tracked by the MSCI, only the US, UK, Canada, Spore and NZ are not yet in bear territory, so there mat be some catch-up to do. The Aug low of 2680 on the STI is likely to be broken with next supports at 2650 and 2600. Among corporate news, Swiber announces it received a pipeline order worth US$155m, its single biggest order to date.