SG Market (18 Jul 12)

SG Market: S’pore shares may extend its foothold over 3000, tracking firmer finish on Wall Street after investors decided Bernanke's bad economic news was really good news, with his reassurance that the Fed would ease if conditions deteriorated further and risk-related assets could make a comeback as markets found solace in better-than-expected corporate earnings from heavyweights Coca Cola and Goldman Sachs. For the STI, the key resistance to conquer is the 3035 level with 3000 now offering support. Among stocks likely in focus, Thai Beverage is said to be in talks with OCBC and Great Eastern for their F&N and Asia Pacific Breweries stakes, which may lead to a bidding war with Kirin Beer and Heindeken. A-Reit's 1Q12 DPU rose 10.3% yoy to 3.53¢. CapitaMall Trust's 2Q DPU rose 0.8% yoy to 2.38¢ may draw more interests in S-Reits.