SG Market (31 Aug 12)

SG Market: S’pore shares are set for a nail-biting month-end as players get cold feet after the Wall Street tumble as expectations fade that the Fed will announce new stimulus at the Jackson Hole meeting and may instead pin hopes on the ECB meeting on 6 Sep. Traders will be watching If the STI can hold above the key psychological support at the 3000 level with the next line of defence at 2975. Upside resistance is now set at 3030. A dearth of fresh corporate news may help keep players sidelined. Mermaid Maritime landed a US$4.8m accommodation barge contract. Otto Marine deployed a Landing Craft in Australia on a long-term charter contract for US$15.1m. Osim bought back 450,000 shares at $1.257 in the open market. SIA’s budget carrier Scoot will add 3 more Chinese cities to network. Noble and Olam have been included in Forbes Asia's Fab 50 list.