SG Market (18 Sept 12)

SG Market: S’pore shares may see some profit-taking after the recent sharp rally as initial QE3 euphoria fades and players contemplate their next moves. For now, equities are in a tight range with the next break key to the next directional run. Geopolitical concerns in Mid-east and China/Japan may come into focus. The 3040-3040 zone on the STI is likely to offer support, while the 3088 year-to-date high, which was retested Mon, remains resistance. Plantation stocks, such as Golden Agri and IndoAgri may be in focus after the EU confirmed it is manking changes and trimming its biofuel targets in preference for non-food feedstocks. Singapore Airlines reported its Aug passenger load factor rose to 78.3% from 76.6% a year earlier, but cargo loads slipped.