SG Market

SG Market: Expect trading in Spore shares to be light without any firm leads. Talk that China may announce new tightening measures amid release of inflation data, may result in investors being reluctant to take positions ahead of the weekend. Immediate resistance for the STI expected at 3230 (Nov 19 high), while support is at the 50-day MA of 3185. Last closed +0.2% at 3210 yday.

#Stock ratings:
* CCT: HSBC initiates at Underweight with $1.47 target.
* CapitaMall Trust: HSBC initiates at Overweight with $2.22 target.
* Comfort Delgro: HSBC upgrades to Outperform from underperform, raises target to $2.00 from $1.19.
* Hi-P: DBSV maintains Buy
* Venture: DBSV maintains Buy
* Suntec Reit: OCBC cuts to Hold from buy.

#Stocks to watch:
* Genting SP: may benefit from move to refinance $4.2b in loans taken to build Resorts World Sentosa, says new terms will be less restrictive.
* Tiger Air: neutral on Nov operating stats. Carried 464k pax, +2% mom, +10% yoy, spurred by addition of 1 new aircraft. But load factor dipped to 86%, -1 ppt mom, yoy. Mgt guides for more rapid fleet expansion to 28 aircraft by end FYMar11, vs 26 aircraft previously.
* Osim: submits TDR application to raise S$76m proceeds from sale of treasury shares. Indicative offer price at S$1.80/sh equivalent, 6% premium to last closing price.
* TCT: halt to be lifted at 9am. Private placement to fund acquisition of 2 new China malls significantly oversubscribed. Acquisition to be immediately NAV-accretive, and income accretive from 2011.
*SIA Engrg: renews expiring service agreement with Silkair. The new contract covers MRO and fleet mgmt svcs for another 5 yrs and will add $300m in labour revenue to order book.
* Bio-Treat: lands Rmb 500m contract to build a water treatment plant in Henan. Work expected to commence 1Q11 after feasibility study.
* DBS: sued by a client claiming fraudulent and negligent misrepresentations relating to a US$1.5m Lehman Brothers-related investment. Case pending; any impact likely small.
* Shangri-La Asia: halt to lift at 9am. Propose 1-for-12 rights issue at HK$19.50 per rights share.