SG Market (11 Sept 12)

SG Market: S’pore shares may stumble, tracking regional markets' declines amid key event risks this week, including the FOMC meeting and the German court ruling on the eurozone bailout. But volume may be lacklustre with investors all waiting for some signs that more bailout is on the way. With expectations running high, the markets are primed for disappointment if the Fed fails to deliver. Support for the STI remains at 3000 level with topside resistance at 3040. Among stocks in focus, Thai Beverage disclosed that it is exploring a general offer for F&N with a third party, possibly complicating Heineken's (HEIA.AE) bid for F&N's APB holdings. Cosco Corp. landed a >US$200m accommodation rig contract, while Tiger’s latest operating statistics showed improvement.