SG Market

SG Market: S’pore shares are likely to track Wall Street and regional gains but any advances may be limited amid the uncertainty in Europe. This appears to be a 2-tier market with traders sidelined in the blue-chips and focused mainly on penny stocks. The 2 major themes emerging for penny stocks are reverse-takeover as many trade at significant book-value discounts or change in substantial shareholders brining in new life to the company. Meantime, the STI is expected to remain rangebound at 2970-3030 if no significant bad news comes out of Europe. Among stocks likely in focus: CMA, Suntec Reit, Mapletree Industrial and STATS ChipPac all reported results, while SMRT plans to spend $900m upgrading its rails, which may impact its profit and future dividend payout.