20 Mar '13, 1am

MARKET COMMENT: Singapore's STI Likely Down; Support At 3230 - SIAS: 0054 GMT [Dow Jones] Singapore's STI is l...

0054 GMT [Dow Jones] Singapore's STI is likely to fall Wednesday as markets digest Cyprus' rejection of a bank deposit tax to fund a bailout for the beleaguered sovereign, write SIAS Research analysts in a note. "The pullback on Wall Street overnight and the renewed concern from Europe are likely to dampen local sentiment this morning," they write, and tip a move back toward the 3230 level. On Tuesday, the STI clawed its way to a 3269.13 close, up 0.4%. Stocks to watch include Midas Holdings Ltd. (5EN.SG), after its subsidiary secured a $36.7 million contract to supply aluminium alloy parts to the Russian railway market. ([email protected])

Full article: http://www.foxbusiness.com/news/2013/03/19/market-comment...

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