SG Market: Singapore shares may open higher given positive cue from Wall Street overnight, but intraday pullback cannot be ruled out given that technical indicators are overbought. Near term resistance for STI at 3085-3146 gap with previous 2010 high of 3043 acting as support. Among blue chips, SingTel may outperform following upgrade by Morgan Stanley to OW with TP raised to $3.60 from $3.30.
Citigroup reiterated Buy call on Genting Spore, upping its TP for the 2nd time in a month to $2.45 from $1.55. BNP initiated coverage of HK Land with a Reduce rating & TP of US$5.42.
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