STI 3,157 +15 +0.49%
DOW 13,171 -74 -0.56%
S&P 1,419 -9 -0.66%
FTSE 5,930 -16 -0.27%
DAX 7,582 -33 -0.43%
GOLD 1,697 +0 +0.01%
OIL 86.16 +0.27 +0.31%
PRE-HK OPEN -115pts

CREDIT SUISSE GLOBAL RISK APPETITE (EQUITY): 2.20 (12 Dec 2012)
CREDIT SUISSE GLOBAL RISK APPETITE : 3.05 (12 Dec 2012)




DJ MARKET TALK: Singapore Shares Likely To Open Down; China PMI Data Eyed

0056 GMT [Dow Jones] Singapore shares are likely to open lower, tracking weakness in U.S. stocks as doubts over the fiscal cliff negotiations again weighed on sentiment. "Traders are now starting to think the unthinkable, that negotiations might break down before the festive period starts and we are left with a political stalemate," Jason Hughes of IG Markets says; "this sentiment unfortunately popped the bubble global markets had enjoyed from the Fed's QE4 announcement the previous night." The STI closed up 0.5% Thursday at a fresh 16-month high of 3156.55. Resistance is now likely around the 3160 level with support around 3120. The key focus in Asia will be the release of HSBC's China PMI data due at 0145 GMT. Among stocks in focus, Gallant Venture (5IG.SG) could fall on news of its 1-for-1 rights issue and proposed acquisition of an Indonesian car parts manufacturer. Other stocks in focus include cyclicals such as commodities plays Golden Agri-Resources (E5H.SG), Noble Group (N21.SG) as well as Nepture Orient Lines (N03.SG).