SG Market (31 Dec 12)

SG Market: S’pore shares could suffer from some jitters following the tumble on Wall Street as lawmakers fail to achieve a breakthrough in the budget talks over the weekend. With HIS futures already trading lower, the STI is unlikely to push higher to break the 3200 threshold in this half day session. Support lies at 3150 and 3110. In corporate news, Keppel Land is acquiring a 6.6 ha prime city centre in Wuxi for Rmb417.6m, while Simon Cheong’s $1.80 offer for SC Global is final with no merger with Wheelock. China Essence faces problem redeeming HK$30m CBs due on 31 Dec12. KS Energy acquires a jack-up drilling rig for US$68.2m.