SG Market

SG Market: Lack of direction from Wall Street, where shares closed mixed, suggests SG stocks may be in for choppy session, at least in early trade. But price movements unlikely huge with participants not having much to trade on, given thin news flow. Support for STI expected at 3150, while resistance at last week's 3216 peak…

WFG Securities notes that the market is likely to remain relatively calm towards the end of the year with some window dressing towards the closing. Expects STI to test at least 3300 by yr-end.


#Stock ratings:
* Yanlord: Citi initiates at Buy with $2.38 TP. Notes stock trading at >50% discount to $3.40 RNAV.
* K-REIT Asia: CIMB raises target to $1.43 from $1.26
* Wing Tai: UOB maintains Buy with $2.30 target. Says top pick for exposure to high end segment which is gaining momentum.
* NOL: UOB maintains Buy with $2.55 target. Macquarie maintains Neutral with $2.25 target, but notes risk to upside to earnings, following Nov data on volumes, rates.

#Stocks in focus:
* JES: won total of 6 shipbuilding contracts for dry bulk carriers - 1x 180k dwt to S Korea, 4x 82k dwt to India, 1x 82k dwt bulk carrier to Liberia. All due for delivery in 2012.
* SIA: to expand capacity on the Spore-Los Angeles route next yr, when it replaces its 375 seater Boeing 747 with the 471 seater Airbus A380.
ben_oh :
* Property developers: may get lift after Minister Mah says cooling measures are working, with no need for additional measures, although govt is prepared to take more steps if necessary.
* CapitaLand: latest project, d’Leedon may see strong interest, as the Tulip Garden (just a stone’s throw away) goes up for collective sale with $650m reserve price. The new development would have an est breakeven of $1,800 psf, vs d’Leedon’s $1650 psf ASP.
* Think Environmental: concept play likely to see continued interest after entering into Memo of Agreement to acquire rights to gold mines in the Republic of Mali, with est reserves of >50 tons of gold.
* CNA: secures $10.1m contract from Novena Hospital, boosting order book to $34.0m.