Market is expected to be choppy for this few sessions. Despite recent volatility in oil price, some analysts remain bullish on crude. If they’re correct, this will help some but not all Asian energy shares. US markets ended lower overnight on rising fears about the euro zone’s debt problem, but local real estate stocks may get support from a takeover offer for Allgreen.
Property firm Allgreen may be in focus after Brookvale, a firm linked to Malaysian tycoon Robert Kuok, offered to take over the company private in a transaction that values the property firm at S$2.54 billion ($2.1 billion). Brookvale will pay S$1.60 per Allgreen share or 39 percent more than Allgreen’s last traded price of $1.15 on Friday.
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Mid term trading
Straits Asia enter 2.95 SL 2.43
