Hopes of rebound in Singapore bourse after yesterday’s hefty losses appear dim as another weak session on Wall Street points to more downside for shares, according to Dow Jones.

Having snapped 3-session winning streak to close down 2.0% at 2,751.88 yesterday, STI may find initial support at last week’s low of 2,710; 2,800 expected to cap any upside.

“Markets will continue to be stifled for a while more, particularly with the World Cup kickoff just a few days away,” says DMG research head Terence Wong, but adds, recent “mini meltdown” has created lots of opportunities.

“I believe the hospitality sector, which I have been optimistic about since the middle of last year, will outperform the market as Singapore will likely be going through a multi-year tourism boom.”

Cites CDL Hospitality Trusts (J85.SG) as favourite in sector.