SG Market: Spore shares may open higher, possibly taking a stab at the key 3000 resistance level, tracking gains in most regional markets. The BOJ's surprise move on Tue to ease policy by expanding its asset purchase program may spur speculation other central banks, including the Fed, may unleash more quantitative easing. Wall Street's swift 11th-hour reversal is also likely to be viewed positively. While Greece remains a concern, the lack of financial carnage on Tue after Moody's downgraded 6 European nations suggests traders are getting more battle-hardened to Europe.
On the local front, latest corporate results are likely going to take centre-stage with Sakari reporting blowout 4Q earnings on both volume and ASP growth, while quarterly earnings from STX OSV, Olam and Tat Hong are also above expectations. GLP 3Q earnings are a shade below estimates despite positive revenue growth and prospects in China. Rotary may also be in focus after announcing a US$34m Saudo contract.
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