SG Market: Wall Street's modest gains overnight may help underpin Spore shares & keep the STI above the 3200 level. Resistance is likely at 3230 while the 50-day MA at 3180 is expected to provide support on any downside. The STI may continue to inch higher but there is not much in corporate news to excite the market.
Investors are anticipating an interest rate hike in China this wkend but if that does not materialize due to lower-than-expected Nov CPI figure, we may be on course for a rally next wk. Pac Andes may be in focus as the frozen fish supplier expands its seafood business by acquiring a 19.8% stake in ASX-listed salmon fish farmer Tassal Group for $67m.
#Stock ratings changes:
*IndoAgri target price raised to $3.05 from $2.77 at Daiwa; Cimb downgrade to Neutral from Trading Buy but raise TP to $3.24 from $3.17
*Wee Hur upgraded to Buy from Hold at Phillips Sec, TP raised to $0.62 from $0.56
*Tiger Airways initiated as Sell at Phillips Sec with TP of $1.65
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