SG Market: Spore shares are tipped to open lower as rising oil prices continue to undermine investor sentiment across the globe with Wall Street declining last Fri as oil futures settled above US$105/bbl, its highest level in 2 1/2 years, outweighing positive news of a drop in the US jobless rate. The STI is expected to hover between 3025 & 3073, which marks the downward trending 20-day moving average.
Water plays like Sound Global, Memstar, United Envirotech, Asia Water, likely to draw interest from proposed privitisation of Sinomem Technology after Clean Water Investment, a unit of private equity firm CDH China Mgmt, made a cash offer to buy out the membrane firm at $0.70 each, or 28% premium over its last traded price. Cambridge Industrial Trust may be in focus after it secured a $320m term loan to refinance an existing loan facility.
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