SG Market (22 Oct 12)

SG Market: S’pore shares are likely to open lower, tracking Wall Street's bad trip last Fri as US earnings reports disappointed with soft tech earnings and weak guidance. The STI has also failed to clear the 50-day moving average at 3050 with support now at the 3020 level followed by the 3000 psychological support. Players will likely keep their eyes on the ongoing F&N takeover tussle with OUE, controlled by Indonesia's Riady group, eyeing the F&B/property conglomerate, potentially upsetting Thai group TCC Assets' bid. Tiger Airways may enjoy a lift after Australian regulators lifted all restrictions on the carrier’s operations in the country. CapitaMall Trust's 3Q12 results came in below par with DPU was flat at 2.42¢. Like U.S. tech counterparts, Hi-P warned its 3Q12 revenue and profit would come in below 3Q11's level, reversing its previous guidance for similar revenue but higher profit. Yoma reported a 3Q loss due mainly to an accounting loss arising from share-based payments to its CEO.