Regional bourses are mostly up this morning in Tokyo (+0.4%), Sydney (+0.7%) and Seoul (+0.9%).
Key events coming up today include China GDP data, BoJ policy decision and the congressional testimony by the Fed chief.
From a chart perspective, key resistance for STI remains capped at its 3,360 triple-top, with underlying support at 3,200.
Stocks to watch:
*Soilbuild REIT: 2QFY15 results in line, as DPU increased 7.7% to 1.615¢, while distributable income grew 17.9% to $14.3m, on gross revenue of $19.6m (+17.2%) and NPI of $16.7m (+19%), largely driven by new contributions from four properties acquired in '14 and '15. Portfolio occupancy fell 0.2ppt to 99.8%, with weighted average lease to expiry of 4.9 years. Aggregate leverage improved 2.2ppt q/q to 36.3%, with average interest cost of 3.49%. NAV/unit of $0.79.
*CapitaLand/ CapitaLand Mall Trust (CMT): To acquiring Bedok Mall from CapitaLand for $783.1m or $3,506psf NLA, at 5.1% NPI yield. The four-storey mall will be funded debt (80%) and an issuance of new units (20%) to CapitaLand, and is estimated to lift CMT’s FY16 DPU by 1.5%-1.7%.
*Sembcorp Marine: Clinched a large contract worth US$1b to build a new semi-submersible crane vessel for Heerema Offshore Services, making it the group's second contract win for 2015. The deal follows the LOI earlier signed in Mar '15 and the vessel is scheduled for delivery in 4Q18 and be built at its Tuas Boulevard Yard.
*Viva Industrial Trust (VIT)/ GKE: Non-binding MOU between VIT and GKE, for the former to acquire an industrial property located at 30 Pioneer Road from the latter.
*QT Vascular: Received allowance for four fundamental patents from US Patent and Trademark Office, which are critical to its portfolio of specialty balloons for the treatment of vascular disease in coronary and peripheral vessels. Three of the patents cover the flagship Chocolate platform, while the fourth covers the Glider family of products.
*Spackman Entertainment: To partner HK-listed National Arts Entertainment and Culture Group (NAE) to jointly collaborate in the production of Chinese and Korean movies for the China and Korea markets, as well as English films for the global market. NAE has produced/co‐produced theatrical films including "THE LEGEND IS BORN – IP MAN (2010), IP MAN: THE FINAL FIGHT (2013) and GOLDEN BROTHER (2014).
*Rex: Increased its stake in licence-holding company Caribbean Rex from 98.49% to 98.55%.
*GSS Energy: Changzhou government to compulsorily acquire a plot of land owned by GSS for Rmb45.7m, which is expected to yield a net earnings gain of Rmb27m ($0.01/share). In conjunction, GSS will purchase another plot of land from the government at RMb8.0m, and will relocate its office and factory to the 19,000 sqm site by mid-2017.
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