SG Market: Spore shares esp commodity sector likely to be weighed down by Wall Street’s steep slide & China’s surprise rate hike. O&M stocks may also be hit despite sector upgrade by Credit Suisse. NOL likely to see another round of broker upgrades after reporting 3Q results that blew out market estimates. GLP will enjoy insti interest ahead of inclusion in MSCI indices come 1 Nov. Genting Spore also seeing renewed interest as it comes close to breaking $2.18 peak.
Resistance tipped at May 2008 peak of 3,268, support at 3,136.
* NOL extends run into 3Q10 with net earnings of US$282m vs US$99m in 2Q
* STX Group to list unit on SGX.
* Osim 3Q10 earnings +86% yoy, +7% qoq
* Sunpower Group secures contracts worth Rmb54m.
* Chemoil to expand its storage capacity in the Middle East
* China-based aluminium producer XinRen Aluminum IPO opens today