SG Market: Spore shares may rise despite mixed close on Wall Street as 8.5% 1Q11 GDP growth proves surprisingly strong & funds flow return to the region. MAS tightening of monetary policy for the 3rd traight meeting should also underpin the market although it was largely expected. Stocks in focus will be those perceived as proxies to Spore's growth, such as banks & SPH. This week's high at 3187 may cap STI near term with support remaining at 3120.
Stocks in focus:
*SPH 2Q results slightly below par at $75.4m, -33.5% yoy due to absence of gains from Sky@Eleven condo
*CapitaMalls Asia signs MOU with mall operator Parco to collaborate in China & Japan
*Hyflux selling $200m 6% preference shares, with option to double the size
* UMS Hldgs’ main customer Applied Materials signs research collaboration deal with A*Star
*Beng Kuang secures its 1st long term 5-yr shipping contract worth US$18.9m to provide a livestock carrier to ship live cattle from Aust to Indon.
Techcomp has submitted an application to SEHK for dual listing of shares in HK.
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