SG Market: Spore stocks are expected to open higher as regional markets react to Wall Street's rally last Fri following better-than-expected US consumer sentiment data and positive political developments in Europe, which may lead to more decisive action on containing the eurozone debt crisis even as markets remain highly fragile/
Cyclical stocks such as commodities, rigbuilders and banks are likely to come into play as oil prices head higher. Golden Agri will be in focus after its 3Q results came in on par with expectations while Mewah and PRCT missed estimates. Noble may continue to see overhead pressure after S&P put it on negative watch before market close last Fri.
The STI to attempt to cover the breadown gap established the previous week, which puts immediate resistance at around 2850, with support at 2760, last week's trough.
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