SG Market

SG Market: Spore shares are likely to open higher following the positive lead from Wall Street on hopes the planned resignation of Italian PM Silvio Berlusconi may restore some confidence to the eurozone. However, any market rally is still going to be a bit of challenge as traders may sell into strength closer to the 3000 level. The STI is expected to find resistance at 2920, with support around 2800 in the near-term. Stocks to watch include Wilmar following disappointing 3Q earnings and Yangzijiang’s 3Q results, which is above consensus. Offshore and commodity-related stocks will also be in focus following the recovery in oil and commodity prices.