SG Market (14 Sept 12)

SG Market: S’pore shares are set to chase after the Wall Street rally now that the Fed has brought out the heavy artillery for the 3rd time to boost the economy and improve the unemployment situation. This big difference this time round unlike QE1 and QE2 is the open-ended nature of the stimulus with no time frame or size revealed. Resistance for the STI at 3040 may be tested with next level at 3100. Among stocks in focus, NOL may face pressure after being replaced by IHH Healthcare on the STI. Commodity, oil related and beta stocks will take centrestage as risk on appetite gets into play.