SG Market (28 Jan 13)

SG Market: S’pore shares are likely to start the week on a positive note, tracking the bullish cue from Wall Street and improving macro backdrop in Europe. These factors are expected to boost risk appetite and lift markets higher. After cracking past the 3238 resistance, the STI is poised to test the next objective at 3280, last set in Jan 11. Underlying support has now shifted to the 3220, near the 20-day moving average. Among stocks in focus: *Chip Eng Seng may come into play on the good sales of its Alexandra Central retail project *F&N could see its takeover becoming a reality after directors deemed TCC Assets $9.55 as "fair" and will accept it. *Singpost - 3Q net profit fell 5.1% yoy to $39.5m even as revenue rose 14.5% to $171m +14.5% yoy *PLife Reit - 4Q results were in line with distributable income +9.5% yoy to $16.3m and DPU +9.5% to 2.69¢ *RH Energy - Plans RTO of ChiwayLand to become a Chinese property developer *Asia Power - Financial controller caught for wrongfully withdrawing co funds