SG Market (26 Sept 12)

SG Market: S’pore shares are likely to correct further with the STI edging down towards 3040 level as euro-zone worries come back into focus and Wall Street suffered its steepest losses in a month. Temasek's announcement that it will sell 400m shares of SingTel will weigh on the market and STI. Other stocks to watch include Genting S’pore, which sold off its entire 4.8% stake in Australian casino operator Echo and Wing Tai, which was in a consortium (incl units of Metro and UE E&C)that won a tender to develop a residential plot in Prince Charles Crescent.