Wednesday, May 16, 2012

SG Market

SG Market: S’pore shares are poised for a tough start, tracking weaker US stocks amid concerns over Greece's political stalemate and ailing banking system. But the STI may have found some temporary support at the 2850 level with 2910 providing upside resistance. Commodities supplier Olam could fall after reporting below par 3Q net profit -23% yoy mainly due to cotton procurement problems at its industrial raw materials unit. SIA may be in focus after reporting slight mprovements to passenger load factors in Apr, although cargo load factors are lower.

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