SG Market: Spore shares are likely to open higher, tracking gains on Wall Street amid more encouraging data on the US economy. With sentiment on the domestic front remaining, solid, the STI has gained 2% so far this year. In a strategy report issued yday, DBS Vickers points to a firm underlying tone for equities, underpinned by continued capital inflows, attractive P/E valuations vs regional peers & recovery phase that is starting to favor index heavyweights.
Also highlights some laggards such as Capitaland, Comfort Delgro, Cosco Corp, Midas, NOL, PacAndes, SIA, & UOB. House has a STI target of 3500 for 2011. Wilmar is likely to be weighed by news its JV with Shangri-La Asia & Kerry Properties has won the bidding for 6 land parcels in China''s Liaoning province for Rmb1.36b; refocusing concerns that it is deviating from its core agri business.
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