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2018-02-27 08:50:20
SG Market (27 Feb 18)
MARKET OVERVIEW- The market is likely to ride on the strength in Wall Street as 10Y UST yield eased from last week's four-year high, alleviating concerns about rising interest rates and refocused attention on economic growth and corporate earnings.- Of the over 100 SGX companies we track that have released 4Q17 results, 16% beat earnings estimates, 57% were in line, while 28% missed expectations. This compares to 24%, 47% and 29% respectively for 3Q17.- Technically, the STI is heading towards its near term objective at 3,575 with immediate support at 3,470.CORPORATE RESULTS*Golden Agri- 4Q17 underlying net profit slumped 43.6% to US$37.3m but FY17 core earnings of US$253.8m (+36.3%) still beat estimates.- Revenue for the quarter fell 10% to US$1.92b on lower CPO average selling price of US