SG Market: Spore shares are not expected to break out of its trading range flanked by 3030 resistance, as represented by its recent Feb high and 2992 gap support amid lukewarm signals from Wall Street and regional bourses. While eurozone woes are taking a backseat and US economic recovery gains traction, there are still concerns over the creeping threat of oil prices and worries that the bulls may be jumping the gun a bit too soon.
Olam may be in play after setting up a JV with Gabon’s govt to develop rubber plantations in the African nation, while Raffles Edu pays fine to Viet govt and halts its training programs in Vietnam. Meantime, Broadway has resumed prodn in 1 of 2 factories affected by the Thai floods. China Environmental may take a hit from the disclosure that it made a HK$10m discrepancy in its 1H12 results anncmt.
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