SG Market: Spore shares are expected to cheer on the new year, extending the gains on the opening day after US and European markets rallied on upbeat manufacturing data from China, Germany and US. The STI has penetrated above the 20-day MA at 2683 and appears poised to test the next resistance at 2735. Immediate support remains at 2740.
Energy-related stocks may be in focus after oil prices broke past US$100/bbl to US$103. On the corporate front, Yoma announced plans to acquire the rights to develop an integrated project, Star City, comprising 9,000 apartments/houses, shops and commercial space. Meantime, KepCorp has also acquired a 49.9% stake in a Norwegian offshore wind turbine foundation designer to augment its foray into the growing European offshore wind farm market.
No comments:
Post a Comment