SG Market: Spore shares may get a slight boost from modest gains on Wall Street overnight although intraday profit-taking can be expected on thin volumes. The immediate resistance for the STI is at 3188 while support remains at 3118. Property stocks may be in focus with Global Logistic Properties acquiring 19.9% of logistics base in Southern China for HK$539m & UOL raising its stake in UIC to 42% from 32.3%, making it the single largest s/holder ahead of Gokongwei’s 36%.
Financial One may gain as its Taiwanese chairman seek to delist it with a $0.485/share offer vs last close of $0.42. Silverlake may see some pressure after controlling s/holder propose to sell 50m vendor shares in a share placement.
Stock ratings changes:
*Noble Group target priced raised to $2.78 from $2.52 at IIFL
*SembMarine target priced raised to $6.78 from $5.58 at BNP
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