SG Market (10 Jul 12)

SG Market: S’pore shares will likely to open flat or lower, tracking declines on Wall Street as investors await fresh cues with a focus on corporate earnings and economic data, which have not been very optimistic, suggesting that there is unlikely to be upside surprises. Support for STI is tipped at 2910 support with resistance near 3000. Among sticks in focus *Keppel Corp took a 20% KrisEnergy stake for US$115. *Alliance Global Properties plans to sell its 5.7% stake in Mapletree Logistics Trust. *ST Engrg’s aerospace unit has won $370m worth of aircraft maintenance and modification contracts in 2Q *Hyflux gets approvals to raise cost of Singapore’s biggest desalination plant to $1.05b from $890m *Ausgroup outlines plan to boost revenue based on committed iron ore, coal and LNG projects *Lung Kee expects group 6-month profit to be substantially lower *Sino Techfibre reports termination of financial adviser *Thakral Corp says unit delivered all 45 houses under phase one of GLNG Housing project