SG Market (14 Jun 12)

SG Market: S’pore shares are likely to stall following negative leads from Wall Street as investors will remain sidelined ahead of the nailbiting Greeck election this Sunday. Traders will be looking to minimise their exposures leading into this uncertain event. The STI is likely to be trapped in the 2740-2800 range. Among stocks likely in focus, SingTel plans to purchase 12% of Taiwanese software firm General Mobile Technology; Olam continued its share buyback, snapping up 516,000 shares on Wed and forms jv with Lansing to originate/merchandise Canadian grains/oilseed. Boustead secures a $14m contract to design and build a facility. Asia Water secures BOT deal for 3 wastewater treatment plants in China, while SGX gives China Milk 9 Jul final deadline or face delisting. Fitch notes S’pore banks are well placed to weather global slump. On the property front, govt has put more ECs and sites in suburban areas for sale in 2H12.