SG Market: Shares may get mild boost in early trade driven by hopes for additional Fed measures to boost the US economy. Resistance for STI remains at 3,200 (near year high of 3197) with support tipped at 3136 (upper end of small gap set on 4 Oct). Since the recent high, the index has come off a bit and has been trending sideways, traders noted that corporate earnings & guidance would have to impress before market can head even higher.
*Tech stocks may get boost from Intel's upbeat 3Q10 results. Both ECS & UMS plans to join dual listing bandwagon.
*SPH’s robust 4Q & FY10 results generally in line with expectations but final dividend payout of 20¢ is lower than street estimates.
*Biosensors may disappoint some investors on news that chairman & founder Lu Yoh-Chie sold his entire stake in the company to new China-based private equity firm Hony Capital at $0.88/share.
*Positive sentiment over the lifting of US ban on deepwater drilling may rub on rigbuilders KepCorp & SembMarine. The latter has been grabbing new contracts of late with more potential orders to come.
On the stock ratings front:
*Yanlord started as a Buy with target price of $2.10 at DB
*Yangzijiang started as a Buy with target price of $2.25 at Citigroup, target price raised to $1.90 from $1.20 at HSBC
*Cosco target price raised to $1.35 from $0.65 by HSBC
*SembMarine tartget price raised to $5.18 from $4.73 by Nomura
*SPH downgraded to Neutral, target price cut to $4.60 from $4.75 by Credit Suisse; but DB keeps Buy call & raise target price to $4.70 from $4.60
*CDL Hospitality started as Outperform with target price of $2.52 at Credit Suisse
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