SG Market (11 Jan 13)

SG Market: S’pore shares could extend their rally on spillover sentiment over the robust Chinese trade data and the ECB's move to hold rates amid signs of economic recovery. While technical analysis suggests market indecision, the risk-on mood in Wall Street might provide the impetus for STI to drift higher towards the recent high around 3240 region with 3200 providing psychological support. Among stocks in focus, ST Engrg could draw attention after announcing its aerospace arm bagged $450m in new contracts in 4Q. F&N is becoming stale after Thai tycoon Charoen Sirivadhanabhakdi extended his takeover offer for the 6th time to 15 Jan, ahead of an effective 21 Jan deadline for any revision to his bid. Nam Cheong is coming up with a 190m share placement at $0.255 to fund its shipbuilding projects.