STI 3,222 -4 -0.13%
DOW 13,471 +80 +0.60%
S&P 1,472 +11 +0.75%
FTSE 6,102 +3 +0.05%
DAX 7,708 -12 -0.16%
GOLD 1,673 -5 -0.30%
OIL 93.93 +0.11 +0.12%
PRE-HK OPEN +58pts
CREDIT SUISSE GLOBAL RISK APPETITE (EQUITY): 2.30 (9th Jan 2013)
CREDIT SUISSE GLOBAL RISK APPETITE (EQUITY): 3.54 (9th Jan 2013)
11 Jan 2013 08:54
DJ MARKET TALK: Singapore Shares May Rise To Test
3235-3240 - SIAS
0054 GMT [Dow Jones] Singapore shares could extend their rally into a third session as investors cheer positive Chinese trade data and the ECB's move to hold rates amid signs of economic recovery. The STI ended up 0.2% at 3226.25 Thursday. "This positive sentiment on the global economic cyclical upturn might spill over to Asian trading session today," says Phillip Securities analyst Ng Weiwen. He adds, while technical analysis suggests market indecision, "the risk-on mood in the U.S. markets overnight might provide the impetus for STI to drift higher." SIAS Research reckons the STI could test the
3235-3240 region, with 3200 providing psychological support. Among stocks in focus,
Singapore Technologies Engineering (
S63.SG) could draw attention after saying its aerospace arm got about S$450 million in new contracts in 4Q.
Fraser & Neave (
F99.SG) is in focus after Thai tycoon Charoen Sirivadhanabhakdi extended his takeover offer for the sixth time to Jan. 15, ahead of an effective Jan. 21 deadline for any revision to his bid.