SG Market (23 Nov 12)

SG Market: S’pore share may stall as the STI approaches the 3000 resistance mark with holidays in the US on Thu and Japan today likely to keep action muted. Cues from regional markets already trading are mixed as Asian markets normally lack direction when Wall Street is closed. Among stocks likely in focus, TCC Assets extended the deadline for its $8.88/share takeover bid for F&N, which is likely to keep speculation of a bidding war with an OUE-led consortium. Keppel Land established a US$3b multicurrency medium-term note program. Golden Agri plans to continue expanding its palm plantation areas next year, mainly by focusing on estate acquisitions in Indonesia's Kalimantan. Olam remains in the news as traders are still waiting for a report from short-seller Muddy Waters after comments from the research firm's founder sent the shares sharply lower earlier this week.