SG Market (02 Oct 12)

SG Market: S’pore shares may rebound on the Wall Street bounce on the surprise pick-up in US factory activity even as the world's major economies continue to contract. The benchmark STI will face topside resistance at around 3080 while the convergence of the 20 and 50-day moving averages at 3040 level will provide underlying support. Among stocks in focus, Tiger Airways may see interest after announcing a partnership with Scoot, the budget long-haul carrier of SIA to jointly sell itineraries. Biosensors may also be in the limelight after extending its BioMatrix licencing agreement with Terumo till Dec 14. Myanmar plays may continue to rally ahead of an investment summit in Yangon on Oct 17.