Monday, October 29, 2012
Singapore market (29 Oct 12)
Singapore market: may open with mild gains, taking cue from the flattish close in Friday’s US market, and slightly positive trading in the KOSPI and Nikkei this morning, both approx +0.5% at 8.18am. Corporate results over the long wk end mainly came from the Reits sector (ie. CCT, MCT, FCOT, Suntec) -- largely in line to above expectations. NOL results however disappointed. Some expectations for Singapore market may pull back later when the HK market opens. Sentiment on HK’s property counters may be impacted after HK introduced new property measures which involves higher selling stamp duty (+5 ppts across all categories) and a 15% buyer stamp duty on foreigners’ purchases. Technically, the STI remains range bound btwn 3028 – 3088.