SG Market (29 Jan 13)

SG Market: S’pore shares could open a tad higher despite cautious lead from Wall Street as traders take a breather from multiple sessions of gains. The STI is likely to make a slow and steady push towards next resistance at 3280, last set in Jan 11 with 3220 providing underlying support. Among stocks in focus: *Biosensors – Receives CE Mark approval for its polymer-free drug-coated BioFreedon stent *Noble – Suspended from Argentine grain register on tax probe Olam – Queensland cotton crop may be hit by floods but those in New South Wales may benefit from additional mositure *Ascott Residence Trust – Raising $150m from private placement of 114.9m new shares @ $1.305 with proceeds used for potential acquisitions, debt repayment and working capital *IndoAgri - Makes 1st foray into Brazil with 143.3m real acquisition *Cosco - Secured 2 shipbuilding contracts worth US$54m *CNMC Goldmine: China Nat’l Gold Group Corp to help in CNMC's Sokor gold project