STI 3,296 +8 +0.24%
DOW 14,036 +54 +0.39%
S&P 1,531 +11 +0.74%
FTSE 6,379 +61 +0.96%
DAX 7,752 +123 +1.62%
GOLD 1,606 +2 +0.11%
OIL 96.70 +0.04 +0.04%
PRE-HK OPEN +159pts

CREDIT SUISSE GLOBAL RISK APPETITE (EQUITY): 0.70 (18 Feb 2013)
CREDIT SUISSE GLOBAL RISK APPETITE (EQUITY): 2.66 (18 Feb 2013)

DJ MARKET COMMENT: STI Could Open Higher; Knocks On Door Of 3300

0053 GMT [Dow Jones] Singapore's STI could open higher and climb past the 3300 level Wednesday, after upbeat consumer confidence data from Germany and reports of deal-making activity pushed U.S. stocks to multi-year highs. The rebound in German consumer confidence, "coupled with the strong lead from Wall Street overnight, is likely to increase risk appetite for the coming Asian session," SIAS Research analysts write in a note. "We could see the index inching higher in the direction of the 3300-3320 resistance level with a midterm price objective of 3370," according to the note. The STI nudged slightly higher Wednesday, ending up 0.2% at 3295.77. Capitaland Ltd. (C31.SG) shares could get a lift from the firm's Tuesday post-market announcement that it is in a joint venture to build a US$2.61 billion township in Johor, Malaysia. Technicals show that "selling momentum increasing" with regard to Neptune Orient Lines Ltd. (N03.SG), writes SIAS Research.


Marriott quarterly earnings rise on higher room revenue
Marriott International Inc reported a higher quarterly profit as room revenue rose, helped by rising international travel and higher room rates, and said it expects revenue per room to rise further this year.
Net income was US$181 million, or 56 cents per share, in the fourth-quarter, up 28 per cent from US$141 million, or 41 cents per share, a year earlier.
Revenue rose 2 per cent to US$3.76 billion. - REUTERS