SG Market (21 Mar 13)

SG Market: S’pore shares are likely to reclaim some lost ground, tracking Wall Street’s advance on Fed chief Benanke’s reassurance that the monetary stimulus will continue for now and with easing concerns over the Cyprus issue. The STI may climb back above its 50-dma at 3260 to test the resistance at around 3275 level. Downside support is at 3230. Stocks to watch out for: OUE: Chosen Credit Suisse, Goldman Sachs and StanChart for its planned $1b listing of a hospitality REIT in 2H13. The hotel portfolio comprises Mandarin Orchard, Marina Mandarin (25%) and Crowne Plaza in S’pore plus Meritus Haikou and Meritus Shantou (80%) in China. Other assets that may be injected include converted towers of Twin Peaks and DBS Towers. *Sim Lian: Launching Hillion Residences, a 99-year mixed-use development in Bukit Panjang on 21 Mar. The project will feature 3 blocks totaling 546 condos atop a retail mall integrated with a bus interchange and MRT/LRT stations. TOP expected in Sep 18.