SG Market

SG Market: S’pore shares are likely to head higher on the back of the firmer close on Wall Street but gains will be limited by the stiff resistance at the 3000 level on the STI and the market close for Labour Day holiday tmr. Among stocks in focus, SingPost's 4Q12 net profit fell 17.4% yoy to $30.6m will like disappoint, while SingLand's 1Q12 net profit rose 10% to $63.8m. Ho Bee's 1Q12 net profit dropped 71% to $15.8m amid sluggish demand for high-end homes. Noble may see support from Gloucester Coal, which it will own 13.2% of when the Yanzhou Coal merger finalizes, citing 3Q12 production more than tripled on-year. IndoAgri reported 1Q results below par on lower ASPs.