Dow -2% with General Motor -20%

Asian stocks are set to dip on Thursday, as hopes for an economic recovery faltered on the prospect of a rise in the cost of U.S. debt. The main U.S. indexes fell by up to 2.1 percent, with shares in troubled automaker General Motor Corp falling 20 percent after a crucial bond exchange proposal failed, taking the company closer to bankruptcy. U.S. Treasury bond prices fell, as investors were concerned about the huge debt that will be needed to fund the record $1.75 trillion budget deficit would cramp the economy''s ability to recover from the recession.

Genting SP ($0.71) - Fell sharply yesterday after Major Shareholder placed out 853mln shares at $0.72 per share on 27 May.

GoldAgri ($0.425) - Fell after it announced a 17 for 100 Rights to raise up to 300mln.

Today, STI index closes up 3% at 2306 (+67 points). Is the market is going to hold up comfortably above 2300. Could this be a sucker rally in the making? I think every market participant should take a step back and ponder on this issue seriously.