Tuesday, January 8, 2013

SG Market (8 Jan 13)

SG Market: S’pore shares likely to see sluggish trading after Wall Street enters a consolidation phase ahead of earnings season with investors likely to take some chips off the table from recent profit gains. Topside resistance for STI remains at 3280 with underlying support at 3200. Not much by way of corporate news apart from a few contracts secured by ST Engrg ($192m in 4Q12), CSE Global (2 new projects worth $26m) and Cosco (2 bulkers est at US$25m each). Separetely, GSH Corp signs MoU to develop a 5.3m sqm marine eco-city with Longhai city in Fujian.

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