SG Market (20 Nov 15)

Expect a lacklustre open from Singapore shares, taking cue from Wall Street, in a session which saw stocks fluctuating between slight gains and losses but remaining on track for gains of more than 2.5% for the week.

Regional bourses are trading lower in Tokyo (-0.4%) and Sydney (-0.1%) but higher in Seoul (+0.1%).

From a chart perspective, technical indicators are in oversold. Near term resistance is tipped at its 50-dma at 2,940, with underlying support at 2,850.

Stocks to watch:
*Economy: A business climate quarterly survey by the Business Times-UniSIM unveiled that business performance in Singapore for 3Q sank to levels not seen since the 2008 global financial crisis, with prospects similarly at its lowest level since 4Q08.

*Strategy: Post 3Q results, Maybank-KE is shaving its current earnings estimates for the Singapore, with the house turning more bearish on the Offshore & Marine sector. The lack of limited stocks outperformance, post earnings, suggests that risks are not fully priced in.

*Banks: According to The Australian Financial Review, Barclays may be exploring a sale of its Asian wealth management business. Some analysts believe that should the asset be up for sale, Singapore banks, in particular DBS, may be amongst the potential bidders.

*SGX: Added KGI Fraser Securities into its list of Full Sponsor for the Catalist Board, thereby authorizing the brokerage house to sponsor listings and oversee companies' compliance with SGX listing rules as well as their corporate governance.

*Frasers Centrepoint: Opened its second serviced residence in Tianjin, China with 192-units, bringing its total properties in China to 15. The property is part of its plan to double its portfolio to 30 properties with over 7,000 serviced apartment units by 2019.

*BH Global. Awarded series of contracts worth $6m, mainly comprising the supply of cables and lighting products to various O&M customers, as well as a supply contract to a FPSO unit. The bulk (95%) of the contracts are expected to be completed by 1Q16.

*Jaya: Granted its second 6-month extension of time until 3 Jun '16 to meet requirements for a new listing.

*Cityneon: Rolling out an initiative with Hasbro and its Transformers franchise which includes a walk-through exhibit that will open in New York, US during 2016.