SG Market: S’pore shares likely to drift towards the lower end of its 2993-3030 trading range given the tepid close on Wall Street and closure of HK, China and Taiwan markets today. The local market may see some profit-taking after the Fed dashed hopes of further quantitative easing.
On the corporate front, there is little market moving news to stimulate investor interest. DBS takeover of Bank Danamon is facing some political opposition from Indon lawmakers while strong demand for Bumitama Agri's IPO may crank up interest in other CPO plays. Ezion has requested for trading halt on possible contract annoucement.
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