SG Market: Spore shares may fall in line with weak overnight cues from Wall Street, as investors await fresh pointers from the coming earnings season. The STI saw start of correction on Mon after an 8-session, 4.3% rally. Downward consolidation expected to continue this week with little major domestic news driving sentiment. Support for the index at 3120 while resistance may be met at 3220.
Stock in focus:
*Yangzijiang secures 6 contracts worth US$214.2m in Mar taking 1Q orders to 14 vessels totaling US$512m
*Olam Int’l: Tata Chemicals taking a 25% stake in its Gabon fertiliser plant for US$290m
*Midas Hldgs plans to invest Rmb600-650m in a new 20k tpa aluminium extrusion plant in Henan Province
*Tiger Airways: Recorded total passenger no 6.0m +23% yoy in Apr'10-Mar'11 yr
*SingTel raises stake in Bharti Airtel to 32.25%
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