Stocks in focus:
* Property: the sector could be in play after the conclusion of a tender for the Alexandra View Site, where Sing Land emerged as the highest bidder at $970 psf ppr. Separately, a freehold 79 Anson Road office is on the verge of being sold for $2000-2050 psf, with United Engineers tipped as the possible buyer. MCT, CCT have properties in the vicinity.
* STX OSV / STX PO: affiliates of the STX group of companies saw big moves in Korea trading yday, on news that the group is close to announcing the sale of its 51% stake in STX OSV.
* SIA: sells 49% in Virgin Atlantic for US$360m to Delta Air.
* SPH: StanChart reiterates Outperform with TP $4.36, views recent pullback as an opportunity to accumulate.
Wednesday, December 12, 2012
Singapore market (12 Dec 12)
Singapore market: may open firmer today, following positive sentiment in the US regarding progress on the fiscal cliff issue which drove markets higher.
Bloomberg notes mkt expectations that the Fed may amplify record accommodation at tonight’s FOMC meeting, by announcing US$45b in monthly Treasury buying that will push its balance sheet almost to US$4t, ie. more Quantitative Easing.
In the region, Kospi and Nikkei are +0.4% and +0.6% at 8.15am respectively.
Technically, the STI continues to hug its 52 wk highs, and is above the 3,111 resistance-turned-support which is positive. Nevertheless, the key indicators are in extended overbought levels, hence do not rule out the possibility of a slight pullback before a continuation of the upward trend. Next resistance is around 3,200.
Stocks in focus:
* Property: the sector could be in play after the conclusion of a tender for the Alexandra View Site, where Sing Land emerged as the highest bidder at $970 psf ppr. Separately, a freehold 79 Anson Road office is on the verge of being sold for $2000-2050 psf, with United Engineers tipped as the possible buyer. MCT, CCT have properties in the vicinity.
* STX OSV / STX PO: affiliates of the STX group of companies saw big moves in Korea trading yday, on news that the group is close to announcing the sale of its 51% stake in STX OSV.
* SIA: sells 49% in Virgin Atlantic for US$360m to Delta Air.
* SPH: StanChart reiterates Outperform with TP $4.36, views recent pullback as an opportunity to accumulate.
Stocks in focus:
* Property: the sector could be in play after the conclusion of a tender for the Alexandra View Site, where Sing Land emerged as the highest bidder at $970 psf ppr. Separately, a freehold 79 Anson Road office is on the verge of being sold for $2000-2050 psf, with United Engineers tipped as the possible buyer. MCT, CCT have properties in the vicinity.
* STX OSV / STX PO: affiliates of the STX group of companies saw big moves in Korea trading yday, on news that the group is close to announcing the sale of its 51% stake in STX OSV.
* SIA: sells 49% in Virgin Atlantic for US$360m to Delta Air.
* SPH: StanChart reiterates Outperform with TP $4.36, views recent pullback as an opportunity to accumulate.
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