SG Market: Spore shares may open lower given mixed session on Wall Street as investors shun making big bets ahead of closely-watched US Sep nonfarm jobs report due later Fri. Support for STI tipped at 3,136 low with 3,200 offering psychological resistance. Despite recent interest in penny stocks, small caps, there has been a growing chorus of broker upgrades on SGX, Cosco & banks.
* Yamada Green Resources makes its debut today the China-based shiitake mushroom supplier is expected to enjoy keen interest in line with the growing appetite for agriculture-related plays.
* Noble continues to build its warchest with the launch of US$1.5b revolving loan facilities, which will replace its existing US$645m facility due to expire in 2010. This is the group’s 2nd loan syndication this year after successfully raising US$1.55b in Aug.
* Global Logistics Properties has priced its IPO at $1.96, which is at the top end of its $1.78-1.96 indicative range after receiving good response. This would value the China/Japan based warehouse provider at 1.48x P/B or almost on par with CapitaMalls Asia, which is into China retail space.
On stock ratings front:
* SGX rated Buy at BNP, target price raised to $11.00 from $9.40
* DBS upgraded to Outperform at Daiwa, target price raised to $16.50 from $14.30
* Wing Tai rated Buy at Nomura, target price raised to $2.12
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