SG Market (05 Nov 12)

SG Market: S’pore shares are likely to be in cautious mood despite stronger-than-expected US jobs data, with players likely feeling nervous ahead of the US presidential election outcome this Tue. Traders want to know who is best at dealing with the fiscal cliff which is both an economic and political nightmare waiting to happen. At this juncture, there is no hard evidence who would be the better man for the job. The 3020-3060 range on the STI is likely to hold. Among stocks likely in focus, SIA reported below par 2QFY13 results with net profit -54% yoy to $90.1m. Cosco 3Q12 that were on low end of estimates with net profit -17.5% to $26.6m, mainly on lower scrap material sales and a lack of one-off gains; StarHub 3Q12 results was a surprise with net profit +27% to $96.2m, on higher pay-TV and Internet revenue