SG Market: Spore shares may pull back as investors look to book some profits from recent gains but volumes are likely to remain light given the China & HK markets are shut for public holidays. With some funds flow returning to the region, next driver for the market will be from upcoming 1Q results, starting this month. Support for STI is tipped at 3,120 while resistance is pegged at 3,180.
On the corporate front, Golden Agri may gain after being accepted to the Roundtable on Sustainable Palm Oil, lifting the cloud over its alleged illegal forest clearing, which led to the pullout of major client, Unilever, Nestle & Burger King. Tiong Seng & BBR may also be in focus after both bagged contracts while GMG may face some pressure after suspending its plantation & processing ops in Ivory Coast because of curfew & the closure of all means of transportation.
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