SG Market (07 Mar 13)

SG Market: S’pore shares may regain some upward momentum after another Dow record close on Wall Street amid a more sanguine jobs picture. The technical picture of STI appears to be improving with stochastics and MACD exhibiting positive near term signals. After breaking above the 3280 resistance, the benchmark index is poised to retest the 3000 psychological barrier. Downside support remains at 3250. Stocks to watch out for: *GLP: Signed 15k sqm of new leases at GLP Park CND, its first development in Changzhou *Top Global: Adjusts prices of its soon-to-be launched freehold condo development The Maisons located at Braddell Road down by 10-15% in response to recent property cooling measures. After the reductions, the 175-unit project will have an anticipated price range of $1,350-1,450 psf. *Mapletree Greater China Commercial Trust: Trading debut at 2pm today on SGX. IPO is priced at $0.93 with distribution yield of 5.6-6% for FY14 and 6.1-6.5% for FY15. Retail tranche 8.9x oversubscribed; institutional 38.1x. Grey touted at $1.08. *Index Changes: DBS and City Dev have been excluded from FTSE/Asean Top 40 Index. The changes takes effect after close on 15 Mar.