SG Market

SG Market: Spore shares are expected to fall following the rout on Wall Street with US indices dropping to fresh 2011 lows as fears over Greece overshadowed stronger-than-expected US manufacturing data. On Mon, the benchmark STI also closed down 2% at 2621.40, nearly a 2-year low, in a broad-based selloff though cyclical sectors such as commodities and offshore took the brunt of the hit. Amid growing global uncertainties, stocks vulnerable to more downside risks would be high beta cyclical plays. These would include shipping, offshore and marine, plantation, property and technology stocks. If STI breaks below critical 2600 support, next downside seen at 2380.