SG Market

SG Market: S’pore shares may rise, tracking offshore cues after Fed Chairman Bernanke's well-received post-FOMC comments, but gains may be limited. The market appears a little tentative above the 3000 level and would need a strong follow-through buying to drive away the blues. Meantime, there is a big shift in near term trading towards the small-caps and penny stocks, suggesting that the market is getting speculative. It is more likely that the smart money is waiting for a pullback before getting in. Expect the STI is remain rangebound between 2970 and 3000. Among stocks in focus, Ascott Residence Trust, Yangzijiang CDL Hospitality Trust reported earnings. Global Premium Hotels is making its debut with indicative grey market price around $0.30-0.35. Genting S’pore may be eyed after rival Las Vegas Sands reported earnings.