STI 2,987 +27 +0.90%
DOW 12,837 +48 +0.38%
S&P 1,391 +3 +0.23%
FTSE 5,791 +39 +0.68%
DAX 7,245 +60 +0.84%
GOLD 1,730 +2 +0.10%
OIL 87.03 -0.36 -0.41%
PRE-HK OPEN +17pts

CREDIT SUISSE GLOBAL RISK APPETITE (EQUITY): 1.03 (21 Nov 2012)
CREDIT SUISSE GLOBAL RISK APPETITE : 1.71 (21 Nov 2012)

DJ MARKET TALK: Singapore's STI May Stall; 2970-3000 Range Likely

0056 GMT [Dow Jones] Traders may spend the day rearranging the deck chairs after Singapore's STI rallied Thursday, with holidays in the U.S. on Thursday and Japan today likely to keep action muted. Cues from regional markets already trading are mixed. "Asian markets normally lack direction when Wall Street is closed. Coupled with the Friday feeling, it spells a subdued day for the region. However, a warm glow is still present after China's flash PMI data reached its highest level for more than one year and the third rise in a row," says Jason Hughes, head of premium client management at IG Markets Singapore, in a note. 2970 may offer support, while 3000 resistance may be tough to crack. The STI ended Thursday up 0.9% at 2986.63. Among stocks likely in focus, TCC Assets extended the deadline for its S$8.88/share takeover bid for F&N (F99.SG), likely keeping speculation of a bidding war with an OUE-led (LJ3.SG) consortium. Keppel Land (K17.SG) established a US$3 billion multicurrency medium-term note program. Golden Agri (E5H.SG) plans to continue expanding its palm plantation areas next year, mainly by focusing on estate acquisitions in Indonesia's Kalimantan state, its executive director told Dow Jones. Olam (O32.SG) will likely remain a focus as traders are still waiting for a report from short-seller Muddy Waters after comments from the research firm's founder sent the shares sharply lower.



DJ MARKET TALK: FN Likely In Focus TCC Assets Extends Takeover Offer

0040 GMT [Dow Jones] F&N (F99.SG) is likely to remain on traders' radars after Thai group TCC Assets extended the deadline for accepting its S$8.88/share takeover bid for the Singapore conglomerate. Last week, a consortium led by OUE (LJ3.SG) trumped the Thai bid, offering S$9.08/share, fueling speculation of a bidding war. The Thai group is "keeping its options open," while awaiting OUE's offer document, says OSK-DMG analyst Goh Han Peng. He expects "a quiet waiting period" until the offer document is released. F&N ended Thursday up 0.2% at S$9.42.

*DJ Goodpack Target Raised To S$2.25 From S$2.07 By Maybank-Kim Eng

*DJ Keppel Land: Establishes US$3 Bln Multicurrency Medium Term Note Program

*DJ Olam International: Strongly Reject 'Baseless' Allegations by Carson Block, Muddy Waters