STI forecast to find the 3000 handle elusive

The expectation is amid weak cues from Wall Street overnight and morning losses by Nikkei and Kospi and resurgent Eurozone fears, says OCBC Treasury Research.

OCBC Treasury Research noted:

The STI, which added 0.53% to close at 2998.44 yesterday, may find the 3000 handle elusive, amid weak cues from Wall Street overnight and morning losses by Nikkei and Kospi and resurgent Eurozone fears. STI support is tipped at 2970.

However, IHH Healthcare debuts today, and institutional bids were supposedly more than 60x oversubscribed. The other IPO debutante is alumina-trader Sincap.

SGS bonds, on the other hand, are likely to remain supported amid the risk-off sentiments.

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