SG Market (24 Sept 12)

SG Market: S’pore shares may stumble at the start of the week with the market technicals showing some signs of fatigue. Trading may also be influenced by fund managers reshuffling their portfolios on month and 3Q end closing this week, macro news on the Spanish front as well as the ongoing China-Japan tensions. Watch out also for S’pore's industrial production figures due Wed for any signs of weakness, which could impact 3Q corporate earnings. The STI is facing some topside resistance at around 3080 level with 3058 level offering support. Among stocks likely in focus, IHH Healthcare joins the STI at the expnse of NOL. First Reit plans to acquire a Manado integrated hospital and hotel, and a Makassar hospital for a total $143m. Dyna-Mac landed new fabrication orders for a provisional US$42m with long-term customer SBM Offshore. Tuan Sing and concerted parties offered to delist Gul Technologies at $0.162/share, equivalent to its last-traded share price.