With oil at above US$67 per barrel, this is likely to once again raise investors` concern over the impact on global economies and earnings of corporates.
With near-term market outlook fairly unclear and not helped by current oil prices and the [post-Q2 earnings] lull, we expect the STI to continue to trade within the parallel channel.
Most market analysts are holding on to their economic or corporate projections while adopting a wait-and-see attitude to assess if oil prices will remain at current high levels.
With oil at above US$67 per barrel, this is likely to once again raise investors` concern over the impact on global economies and earnings of corporates.
