SG Market (28 Dec 12)

SG Market: S’pore shares may get a little lift on hopes that the US may avoiding a budget crisis after the House planned to reconvene on Sunday to cobble a deal to avert the fiscal cliff but expect little conviction in the market with most investors still preferring to sit on the sidelines. The upper limit for the STI remains at 3227 with 3150 providing immediate support. In corporate news, Keppel Corp bagged another $420m of contracts to take its O&M order tally to $12b this year, while Nam Cheong sold 3 more vessels worth US$56.4m. Technics O&G is raising $11.2m via placement of 10.7m new shares at $1.05.