SG Market: Spore shares are expected to open with a slightly negative bias following weaker closing on Wall Street. Attention will now turn to Chinese trade data later today & US retail sales due Fri. Technically, the market appears a little overstretched with small/midcaps & S-chips in rotational play. With light corporate newsflow, support for the STI is tipped at around 2200.
Keppel Group of companies will lick-start the results reporting season beg 18 Jan but with a lot of expectations already built into the share price & with the stock trading at the top end of its Oct 08-current trend channel, stock could be due for a pullback. SGX-listed commodity players received thumbs up from Barron's, which highlighted that Olam, Noble & Wilmar may challenge large long-established Western companies like Archer Daniels Midland Co.
Stock rating calls:
*ComfortDelgro upgraded to Buy from Hold at BNP, TP raised to $1.98 from $1.63
*Mandarin Oriental initiated as O/P at Daiwa with TP of US$2.44
*Wilmar upgraded to Buy from Hold at OCBC Sec, keeps TP at $6.48
*Olam maintained as Buy at Daiwa, TP raised to $3.72 from $3.52
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