SG Market (03 Sept 12)

SG Market: S’pore shares are likely to trade within tight range amid conflicting signals over Fed chief’s signal for potential stimulus and China’s weaker-than-expected PMI data. The STI is expected to trade between the 3000 and 3050 zone flanked by the 20 and 50-day moving averages. Among stocks in focus, Keppel Corp said a unit is part of a consortium which won an around US$100m Polish waste-to-energy project, while CapitaLand is launching Raffles City Chengdu, to begin operations this month. Hi-P plans to invest US$99m in a production plant in the Nantong Economic & Technological Development Area and Raffles Education canceled the interim dividend it declared in Feb. Kueuz has received approval to move to mainboard from Catalist. Meanwhile, Midas announced a Rmb588m JV rail contract.