SG Market (18 Mar 13)

SG Market: S’pore shares may see some selloff following a soft close on Wall Street last Fri on an overdue pullback after consecutive weeks of gains. Traders may also be wary of S’pore’s weak non-oil exports for Feb, which fell 30.6% yoy vs a forecast drop of 17.7%. Sentiment could also be hit by unconfirmed news that a local brokerage has imposed across-the-board trading restrictions on risk exposure to non-marginable shares over the weekend. Topside resistance for the STI is seen at 3300 psychological level with immediate supports at 3280 and 3260. Stocks to watch out for: Sembcorp Marine: Secures repeat order from Oro Negro for 2 jack-up rigs worth US$417m. *Boustead: Entered into 50/50 JV with Kinnarii Power Assets to develop utility-scale solar photo voltaic projects in Japan. The JV Kinnon Green owns the rights to a 20MW solar photo voltaic power generation portfolio in Kyushu. *IEV: Both IEV and Gas Malaysia have extended the MoU deadline of the feasibility study on distributing LNG to industrial consumers in Peninsular Malaysia by another 2 months to 15 May 2013. *Popular Holdings: 3QFY13 net profit -4% to $11.7m, revenue -8% to $152.8m due to lower sales from retail and distribution segment in S’pore and Malaysia, which was cushioned by improvements in HK, and no property contributions. NAV/share stood at 11.26¢. *ThaiBev: Included as STI component stock, replacing IHH Healthcare wef from today.