SG Market (06 Sept 12)

SG Market: The STI may try to re-challenge the 3000 barrier on a slight technical rebound even as investors adopt a wait-and-see mindset to see if the ECB can cobble a more concrete plan to tackle the eurozone debt crisis. Immediate support for the STI is seen at the 2980 level. On the local front, there is little news or catalyst to lift the market. Among stocks likely in focus, F&N called a shareholders meeting on 28 Sep to vote on Heineken's bid for its APB holding. CapitaMalls Asia plans to buy its 3rd shopping mall in Wuhan for Rmb1.16b, while GLP signed a pre-lease expansion agrrement for another 74,000 sqm of space to a leading global e-commerce player. Golden Agri requested a trading halt pending an announcement, possibly relating to a multi-stakeholer collaboration to achieve sustainable palm oil production.