Friday, June 15, 2012

SG Market (15 Jun 12)

SG Market: S’pore shares may get a slight lift from Wall Street’s advance amid hopes of additional stimulus measures from Fed and central banks but the gains are unlikely to be sustained as investors stay side-lined ahead of the weekend Greek show. Expect the STI to meet stiff resistance at the 2800 level with 2740 providing underlying support. Among stocks eyed, STX OSV announced that it has bagged 2 contracts to design and construct a large, advanced Offshore subsea construction vessel for Ocean Installer and Solstad Offshore worth Nok1.4bn and a PSV from Troms Offshore. Bank Indonesia officials clarified that >40% ownership of local banks might be allowed, boding well for DBS' bid for Danamon. Plantation plays may face pressure after Asian CPO prices hit 2012 lows.

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