SG Market: Spore shares may rise, taking its lead from firmer US stocks overnight & easing euro-zone debt concerns with STI taking another crack at the 3280 resistance before testing the Nov high of 3314 but gains are unlikely to be significant ahead of the earnings season and with the short term technical picture looking uncertain.
Straits Asia may rise after being issued in-principle license for Northern Leases Sebuku coal mines, enabling it to ramp up prodn while Hyflux may see interest on its US$45m BOT project wins in Chongqing. However, Keppel Corp may face some uncertainty on news that Petrobras may cancel package 2 of its 28-rig tender, in which Keppel has submitted 2nd lowest bid
Stock ratings calls:
*Ametek Engrg initiated as Buy at Credit Suisse with target price of $1.75
*CapitaMalls Asia upgraded to O/PF from Neutral at Macquarie, target price raised to $2.24 from 2.19
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