Traders noted that the inverse correlation of the USD to equities seems to be a prevailing trend as a weaker dollar helps increase exports, sales & profits for US MNCs. Among those shares which are expected to see active trade in Tues’ session include Lions Gate Entertainment, Optimer Pharm & Intel as the chipmaker presents at Taiwan’s Computex trade show. US mkts are closed Mon for the Memorial Day Holiday.
Other stocks in focus include Q&M Dental, which has sets a 5-yr target to list its China business, once the JVs there achieve a combined profit of Rmb80-90m. SC Global may draw some interest after it won a bid for a Rmb225m project in Fushun City in China. Topside cap for STI seen at 3180, while support lies at 3110.
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