Singapore shares are likely to continue its slow upward creep following the modest gains in Wall Street overnight, led by a rally in energy and health-care sectors.
Regional bourses are trading slightly higher this morning in Tokyo (+0.04%) and Seoul (+0.54%).
From a chart perspective, the STI is likely to be bounded by upper resistance at 3,500 and downside support at around 3,416 (20-dma).
Expect SGX listed stocks with decent operations in China to continue being in focus, as traders use the recent big moves in Hong Kong to play on similar proxies in overseas exchange.
Stocks to watch:
*Property: Data from SRX showed more HDB resale flats were sold in Mar on a /m basis, as resale prices continued to slip. 1,349 units were sold (+17.5% m/m; -5% y/y), as price dipped 0.8% m/m (-6.6% y/y).
*Keppel DC Reit: 1Q15 results met street expectations, as DPU and distributable income came 1% and 1.3% above management's IPO forecast at 1.94¢ and $17.2m, respectively. Gross revenue exceeded forecasts by 3% at $31.2m, while NPI beat by 2% at $26.2m, due to non-recurring service income at Citadel 100 and Gore Hill Data Centre. Portfolio occupancy inched higher by 0.1ppt to 93.6%, with WALE of 7.5 years. Aggregate leverage stood at 26.7%. NAV per unit of $0.87.
*Noble: Under fresh attack as Muddy Waters (MW) joins Iceberg on group's accounting practices. MW highlighted that Noble has been free cash flow positive for 4 out of 20 years and seems to exist solely to borrow and burn cash. MW also questioned how Noble had bought Indonesian coal miner PT Alhasanie, sold it to 2 Indonesian lawyers and later bought it again via a subsidiary, booking negative goodwill and fair value gains each time.
*Aspial: Broke Australia's record for the most expensive apartment ever sold, with a penthouse unit at its Australia 108 development in Melbourne. The undisclosed international businessman from China paid $25m for the 750 sqm unit.
*Viva Industrial Trust: Secures its 1st retail anchor tenant, Decathlon, with lease for 35k sqft at Technopark@Chai Chee. This will be sporting goods retailer Decathlon's 1st flagship store in Spore and SEA.
*SMRT: Will partner global manufacturer and supplier of railway industry equipment, Faiveley Transport, to market and supply MRO services for rolling stock components in Southeast Asia (excl. Thailand, Taiwan and Hong Kong).
*Genting SP: Its 557-rm Genting Hotel Jurong, the first major hotel project in Jurong Lake District, will soft launch on 30 Apr with grand opening on 27 May.
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