Spore market

Spore market: likely to see muted trading in this final week of the year.
Not expecting big moves today, given lack of direction as the Hong Kong market remains closed.
Markets in the rest of the region are mixed, with the Kospi up 0.2%, while the Nikkei is down 0.3% at 8.20am.

Technically, Autochartist notes that the STI may rise. Says, after forming a closing price reversal pattern last week, the STI's chart pattern suggests a bottoming formation which often leads to a two to three week rally. Adds, the index may also be trying to form a secondary higher bottom compared with Oct 5's 2522 bottom, with a follow-through rally through last week's 2678 high key. But notes, the only way the index's main trend will turn upward will be after a breakout over 2793, the last swing top.

Stocks to highlight:

* Wilmar: announces related party purchase of remaining 1.6% in Wilmar China for HK$1.9b. Separately, the co, together with its JV partners, has agreed to terminate a land-use-rights agreement in Yingkou City, Liaoning Province; recall its entry into the property sector around a yr ago weighed its shares.

* STX OSV: signed a contract worth ~NOK 200m to build a forage carrier for Eidsvaag AS.

* SGX: to add 15 new ADRs to its int’l quotation board on Dec 29.

* Noble: Moody’s says it sees no ratings impact for the co from its agreement to sell stake in Gloucester Coal.

* China Minzhong: announces the official opening ceremony of its New Industrial Park in Putian City, Fujian Province. The facility has a processing capacity of ~3x Minzhong’s current processing capacity. The facility is expected to achieve full utilization within the next 3 yrs.

* Ultro Technologies: proposes acquiring LCCE for $100m.

* Pollux Properties: exercised option to purchase a Spore property for $25m.