SG Market

SG Market: S’pore shares are likely to see a cautious start as investors continue to focus on the political and economic uncertainty surrounding Greece. A pullback on Wall Street provides a weak lead, though with the STI down 5% since the beginning of the month, the selling may be overdone and some bargain hunting may emerge. But any sustained rebound will depend on the situation in Europe, which is unlikely to go away anytime soon. Next support for the STI is seen at 2780 with overhead resistance at 2850. SIA will be in focus after suspending flights to Abu Dhabi and Athens due to weak demand. Commodity related stocks are expected to remain weak.