SG Market (05 Sept 12)

SG Market: S’pore shares may continue to tread water amid uncertainty over upcoming ECB meeting and weak US and S’pore manufacturing data. The market seems to be lowering its expectations on thinning volumes, which may not be a bad thing if there is going to be disappointments coming out of Europe or US. Support for the STI still stands at 3000 with overhead resistance at 3030. Plantation stocks may see some interest after US soybean futures set fresh all-time highs amid dwindling US crop and consistent export demand from China. Gems TV is seeking a possible candidate for a possible reverse takeover. Players may continue to digest news on URA placing limits on "shoebox" residential properties, while Hongwei plans to transfer its listing status and relist on Catalist.