SG Market: Spore shares are likely to be to remain range-bound with a downward bias Following Wall Street slippage on concerns over the Eurozone debt situation as well as softer opening in Japan & Korea. With little catalysts to move market, we do not expect STI to break out of the 3120-3200 trading band.
IndoAgri is likely to face further ratings downgrade after PT SIMP priced its Indon IPO at the lower end of its indicative price range at Rp1,100 per share, which will lead to earnings dilution.
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