SG Market

SG Market: Spore shares are likely to open higher, buoyed by the strong showing on Wall Street last Fri as well as firmer regional bourses, which opened 1.5-2% higher. Expect the benchmark STI to test the 50-day SMA at 2745 with the next resistance capped at around 2800 level. However, sentiment remain fragile ahead of the outcome of the EU summit on Oct 26 and any disappointment could quickly turn to another selldown. In corporate news, Capitaland could be hurt by a dismal 3Q earnings hurt by higher expenses. Other stocks to watch today include Swiber Holdings on news of its preferential share offer, SIA and STX OSV.