SG Market: Spore shares have mixed leads as steady gains on Wall Street Fri fail to lift regional markets, which opened mostly lower as caution remains over the unrest in the Mid-East & North Africa. The weekend disclosure of accounting irregularities by another 2 Chinese-based firms China Hongxing & Hongwei may agin put a cloud over the S-chip sector. Latest results from Sembcorp Industries, Midas, Xinren & Yamada generally in line & are unlikely to trigger any ratings.
Expect support for STI to remain at 2915 with resistance at 3050.
* Osim: Macquarie reiterates Outperform, $2.06 TP, following non-deal roadshow in Spore last wk. Says recent selloff (down 14% over last mth) provides attractive entry pt. Mgt maintains TDR listing to occur in Apr ’11 at a price of $1.80/sh.