SG Market (31 Jul 12)

SG Market: Spore shares may gain a bit as investors await the much anticipated Fed and ECB meeting this week where most expect significant steps to bolster the eurozone economies. The STI may make another test of the 3040 resistance with the 3000 level providing psychological support. Among stocks in focus, Sakari is set for a soft opening after reporting below par 2Q results with net profit -39% yoy to US$23.9m. SingPost 2Q earnings slipped 2.9% to $38.1m was was slightly above expectations. Cambridhe Ind reported 14.8 growth in distributable income and propose DPU of 1.18¢. Tuan Sing reported strong set of results which was above estimates.