Spore market: muted trading likely to continue in this final trading wk of the year, as participants stay on the sidelines amidst the festivities.
The Nikkei is up 0.1%, while the Kospi is down 0.8% at 8.26am this morning.
With little direction coming from the US overnight and in the region, expect Spore shares to trade in a tight range with a slight negative bias. In the near term, see resistance at 2700, and support at 2650.
Corporate news flow remains thin.
* Cosco: secures contract to convert a large crude carrier to an FPSO
* Midas: announces 3 contracts worth a combined Rmb 142.2m
* Hyflux: injects 2 China water-treatment plants into its Galaxy NewSpringworth JV for US$41.2m.
* Hotel Properties: acquires 30% stake in a 77-room holiday resort Bilila Lodge in Tanzania for US$16.5m.
* Yingli: secures a land plot in Chongqing financial street for Rmb 50.4m.
* IEV: 30% associate commences RM12m project to provide turnkey project mgmt of a vent platform and associated pipelines.
* Pteris: secures a Rmb 16.6m contract from FedEx China to design and build a new parcel sortation system in Beijing Gateway at Beijing Capital Int’l Airport.
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