SG Market: Spore shares are expected to mark time as investors search for direction amidst little leads from Wall Street & dry newsflow following end of corporate reporting season. Focus will still remain fixated on the geopolitical situation in the Arab world & its likely impact on oil prices, which should be supportive of commodity stocks such as Noble, Golden Agri, IndoAgri & the oil dependent offshore rigbuilders.
No respite seen for SIA as rising oil prices cuts the benefits of a rebounding economy with Iata slashing the profit of global carries by almost 50% this yr. Darco could face some pressure following the death of its ED & co-founder. Hyflux says it will increase focus on Asia as its projects in Libya face delays & is exploring possibility of issuing pref shares to fund its Asian investments. KepCorp announced it has acquired a 27.8% stake in Dyna-Mac.
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