Singapore’s STI is up 0.1% at 2,989.5, with the index struggling to extend its four-session winning streak after rising around 1.5% week-to-date.
“Global risk appetite may be relatively restrained today given lingering uncertainty over the Greek aid stalemate and ongoing EU budget talks,” OCBC Bank says in a note.
It expects the STI will find any further advance toward the key 3,000 resistance “challenging” amid a lack of cues from Wall Street Thursday and Japan’s holiday Friday.
“With year-end market conditions fast materialising, indications of a stabilising Chinese and global economy (note the RBA standing pat in November) and a positive risk appetite environment may not be enough to wake markets from their slumber,” it adds in a forex note.
The value of shares traded is thin at $340.1 million, although action in penny plays has pushed the number of shares traded to a whopping 1.47 billion. CapitaLand is up 1.2% at $3.41; Phillip Securities says China property prices have stabilised and tips CapitaLand offers “excellent exposure to this positive trend,” with 38% of assets allocated to China as of end-March.
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