Views mixed on trading sentiment

The GDP figure could dampen the mood while trading could be inspired by positive moves from MAS.

OCBC Investment Research said:

Muted Wall Street showing and renewed weakness seen in the Nikkei (now down 0.1% after opening 0.7% high) are unlikely to inspire the local bourse today.

The slower-than-expected 3Q12 GDP growth could also weigh on sentiment and send the index easing back towards the key 3000 support, and even 2953 (38.2% retracement of 2698-3110 rally).

However, we do not foresee a sharp pullback, and liquidity-driven bargain hunting could emerge below 3000.

Initial cap likely at 3067 (centre of Bollinger band), ahead of 3100 psychological hurdle.

IG Markets Singapore meanwhile noted:

Given the positive moves from the MAS today and the avoidance of a technical recession, there may well be a more positive mood for traders this Friday in Singapore.

With that in mind we are calling the Singapore market to kick off trade shortly flat.

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