SGX news HighLights for Wednesday

• Singapore shares overcame an overnight decline in the US markets to post a modest gain as the Straits Times Index edged up 0.02 per cent, or 0.75 point, to 3,414.01.
  
  
• Shares of SIIC Environment Holdings rose 6.7 per cent on active trading after the water treatment company announced an acquisition of a China-based business in the same industry.
  
  
• Crude futures dipped slightly as ballooning US storage volumes continued to pressure prices although relatively healthy demand figures from Europe supported prices.
  
  
• Comments from the US Federal Reserve's vice chairman suggesting interest rates would rise more slowly than expected put further downward pressure on the dollar.
  
  
• Sino Construction recorded a S$7 million net loss for its latest quarter ended Dec 31, 2014, versus a S$2.18 million net gain in the year ago period.
  
  
• ValueMax Group has decided to expand its business to include unsecured moneylending and the new business is complementary to the existing businesses.
  
  
• NOL,the shipping company that helped cement Singapore's status as a global trade hub may be shaping up as a takeover candidate.

Singapore's STI opens 0.2% higher

SHARES in the local bourse opened higher on Tuesday with the benchmark Straits Times Index gaining 5.4 points or 0.2 per cent to 3,415.5.

Some 51 million shares worth S$104 million were done as at 9.04 am, with 87 counters up, and 32 counters down. The local market opened higher despite moderate falls in US stock indices overnight; the Dow lost 0.1 per cent while the S&P 500 fell 0.2 per cent and the Nasdaq slipped 0.3 per cent.

Over in Europe, concerns over Greece's debt talks led to falls across many major markets.

Hot stock: Noble leads the actives

Singapore Shares [SGX]- SHARES of Noble Group continued to be actively traded on Tuesday with 24 million shares worth S$22 million done.

The counter has slipped 1.5 Singapore cents or 1.7 per cent to 89.5 Singapore cents as at 12.15pm.

On Monday, the commodity trading firm vigorously rejected allegations by Iceberg Research and said it will start legal proceedings after the little-known research firm issued a third report.

Market Forecast for week ahead-

The trend of market is expected to be bullish for this week . Currently we have seen unusual volatility in markets due to Federal Reserve meeting. We may see bullish really in next week trading session because it has taken rebound from 3374 and we may expect that it will reach up to 3456.

Stocks to watch: Noble Group, Cambridge Industrial Trust, S-Reits

NOBLE Group on Monday said it will start legal proceedings against Hong Kong resident Arnaud Vagner, Enlighten Ace Ltd, a Seychelles company, and any associates, at the Hong Kong High Court "for conspiracy to injure Noble Group".

THE manager of Cambridge Industrial Trust (CIT) said on Monday that RBC Investor Services Trust Singapore Limited, in its capacity as trustee of CIT, has agreed to buy the remaining 40 per cent it does not own of Cambridge SPV1 LLP for S$11 million. The stake in Cambridge SPV1 LLP - which holds an industrial property at 3 Tuas South Avenue 4 - will be purchased from Oxley Projects Pte Ltd.

SINGAPORE Reits offer value against their Hong Kong and US peers, said Pearly Yap, a portfolio manager with Eastspring Investments, in an interview with The Business Times. But the depreciating Singapore dollar, and too many leveraged private clients in local Reits in the face of an interest rate hike, are causes for concern.

Singapore's STI up 4.21 points at opening, tracing gains in US, Europe

SINGAPORE Stock Picks[SGX]- Singapore share prices opened higher on Monday with the Straits Times Index (STI) up 4.21 points to 3,416.65 as at 9.08 am, following gains in US and European markets on Friday.

Top gainers in early morning trade included UOB, DBS and Singapore Exchange. Shares of Noble Group rose on heavy trading after the company said it will start legal proceedings following the third Iceberg report.

Some 86.7 million shares worth S$120.9 million changed hands, with gainers outnumbering losers 85 to 56.