Flat session on Wall Street suggests Singapore stocks generally not expected to make much headway, although pockets of strength could still surface given positive newsflow from some companies, says Dow Jones. 

 

Resistance for STI, +0.3% at 3163.41 yesterday, expected at year-to-date 3197 high; support tipped at 3132 (Oct. 1 high). Keppel group may be in focus, with Keppel Corp. (BN4.SG) winning $341 million waste-recycling contract, Keppel Land (K17.SG) reaping $321 million gain from selling its one-third stake in Singapore’s Marina Bay Financial Centre to K-REIT Asia (K71U.SG), which in turn will sell 2 office properties to developer for $573 million. 

 

Keppel +2.3% at $9.63 yesterday, Keppel Land +0.2% at S$4.11, K-REIT +1.5% at $1.37. Asiasons WFG Securities says strong liquidity, expectations of more quantitative easing could continue to support shares, but tips effect as short term  “as we experienced in the past year;”  expects high risk of sharp correction as economic conditions, especially in U.S., not showing sustained improvement.