SG Market (18 Oct 12)

SG Market: S’pore shares likely to get a lift from gains on Wall Street on upbeat US housing data but any gains may not be sharp as traders await clearer direction from upcoming earnings reports. Resistance for the STI is seen at 3060 with 3020 providing underlying support. Investors may look at Keppel Land, which reported a 28.5% rise in 3Q net profit and Ascendas Reit, which reported a 4.4% rise in 2Q DPU to 3.53¢, translating to an annualized yield of 5.7%. Triyards also makes its debut today with a implied market valuation of 55¢.