SG Market (25 Jul 12)

SG Market: Spore shares are likely to come under pressure following the 3rd consecutive triple-digit decline on Wall Street. Technical indicators on the STI are also deteriorating from overbought levels with corporate results showing upside no surprises. Support for the index stands at 2960 with resistance at 3000 level. Hospital-operator IHH Healthcare makes its trading debut, as does alumina-trader Sincap. SIA Engineering 1QFY13 net profit rose 2.9% yoy to $70.1m. ASX and SGX plan to boost trading links. MIT's 1QFY13 came in marginally above expectations as DPU rose 14.1% yoy to 2.26¢. Starhill Global 2Q results was in line with estimates with DPU +3.8% yoy to 1.08c.