Singapore shares are expected to fall next week in the absence of fresh trading cues, dealers said Friday. The Straits Times Index (STI) skidded sharply this week, mirroring slumps in Wall Street and regional bourses, as fears of interest rate hikes in the United States and a bigger-than-expected jump in inflation spooked investor sentiment.
"There aren't any positive trading catalysts to really push the (market) up to pre-fall levels," a local brokerage dealer said.
Dealers also said the run-up to and the staging of the football World Cup next month would cause the market to trade within range. Millions of football crazy Asians, including stock market traders, are expected to stay awake until the early hours of the morning to watch the matches and come into the office bleary-eyed, dealers admit.
"The World Cup will be coming up in the next couple of weeks, so it will possibly trade sideways," the dealer said.