Asian Outlook
Singapore shares outlook - Higher on continued Wall St gains
SINGAPORE (XFN-ASIA) - Share prices are expected to open higher, tracking the continued gains on Wall Street after minutes from the Federal Reserve's meeting last month hinted that inflation in the US is under control, dealers said.
Despite the likely boost in sentiment from Wall Street's lead, dealers said investors will not be taking up aggressive positions given the recent strong gains that have sent the STI to record levels.
"It is unlikely that we will ever see a buying frenzy developing in the market even when the STI climbs deeper into uncharted territory," Frasers Securities research head Najeeb Jarhom said. He noted that trading may be restrained by occasional bouts of profit-taking, even as the STI is expected to maintain its uptrend until the end of the year.
