SG Market (24 Dec 12)

SG Market: S’pore shares are likely to come under pressure, taking cue from the weakness on Wall Street as optimism over a deal to resolve the US fiscal cliff fades as a vote on a Plan B was abruptly cancelled with little support. Low liquidity environment on a shortened session ahead of X’mas is expected to cap any movements with immediate resistance for the STI seen at 3227 and immediate support at 3140. Rowsley, controlled by renowned investor Peter Lim, resumes trading after announcing 2 deals to transform it into a real estate player via a RTO of RSP Architects and acquisition of a 9.23ha plot of land in Iskandar. Olam Int’l is also in the limelight after acquiring the coffee business of Seda Solubles in Spain.