Friday, February 18, 2011

SG Market

SG Market: Spore shares are expected to stay listless despite the higher close on Wall Street as all eyes will be on the 2011 Budget out in the aftn with the govt expected to dish out fiscal support in the form of cash handouts & rebates on taxes and utility bills to defray the rising cost of living plus the usual incentives to upgrade the skills of the lower-income group in order to enhance competitiveness & employability.

Biosensors is likely to take a hit on dilution concerns following its massive 20% placement at a maximum 10% discount price. Otto Marine may also fall after posting a 4Q loss impacted by forex losses & reversal of gains on vessel sales. OCBC will report 4Q results during lunch break with consensus profit at ~$560m. STI expected to stay within 2040 & 2120 range before clearer trend emerges.

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