SG Market

SG Market: Spore shares are likely open higher following the rally on Wall Street amid hopes of concerted action by European policymakers to stem the region’s debt crisis as well as higher opening on regional bourses. Financials and energy sectors expected to perform well, taking their lead from the US market, which had financials leading the way with the sector finishing +4.5%. Resources stocks--among the hardest hit yday might benefit from the positive mood. In corporate news, Chinese confectionary maker Hsu Fu Chi may be in focus on resuming trade after shareholders voted in favour of the scheme which relates to a proposed JV with Nestlé. Analysts tip the STI to remain volatile, within a broad 2600-2900 range near term.