SG Market: Spore shares could open lower after Wall Street's weak session and as regional markets open in the red; negative factors remain Europe, where reports suggest leaders are still at loggerheads over the EFSF and the US, where the Fed's beige book has sparked increased worries over the US economy.
The benchmark STI closed down for its 2nd straight session of losses on Wed. Support is tipped at 2680 and 2600 with any upside likely to be capped at 2750. Property stocks may be in focus after the govt said it continues to monitor the real estate market closely, and will take more measures to temper high housing costs if needed, as current low global interest rates are likely to keep property demand high. Within the sector, Keppel Land may draw interest after its 3Q net profit rose 6.6% on year to $58m, helped by higher contributions from its property investment and trading businesses, and changes in accounting policy.
No comments:
Post a Comment