SG Market: Spore shares are likely to open higher taking cues from Fri's positive closing on Wall Street & ahead of resumption of corporate results releases this wk. The market outlook remains positive & expectations are that many blue chip companies that are reporting earnings this mth may declare healthy dividends. The benchmark STI has managed to close the downside gap set on Jan 31 before the Lunar New Year break. Support is tipped around 3180 with resistance tipped at ~3238.
Genting Spore may take the spotlight following 4Q results which showed Marina Bay Sands contributing US$306m Ebitda or 40% of parent LVS’ bottomline. Meanwhile, GENS also announced its Battlestar Galactica roller coaster, the biggest draw at its Universal Studios Spore theme park, will finally re-open to the public on 21 Feb. GENS expect sell-out crowds when the popular ride, grounded since Mar 10 due to safety issues, is reinstated.
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