SG Market: Spore shares are likely to cement its climb above the 3000 mark following a confluence of positive factors – Wall Street’s firmer finish last Fri, China's reserve requirement ratio cut and a possible Greel deal are all likely to boost risk appetite. The STI appears set to rise towards the key 3030 resistance zone before trying to close the breadown gap at 3100.
Commodity plays, among the usual beneficiaries of risk-on sentiment with oil touching a 9-month high, with KepCorp and SembMarine among likely gainers. OCBC is likely to draw interest after reporting 4Q11 net profit of $594m, which is slightly above expectations. Bigger budget allocations from recent Budget 2012 is expected to benefit the healthcare and land transport sectors, but labour intensive industries such as construction and shipyards may be hit by cuts in the foreign worker dependency ratios.
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