We believe that STIs' precipitous decline that started from 3465 should find support soon at 3270 or slightly above. STI's current short-term downtrend is likely to turn sideways from c.3270-3390 in coming weeks.

The current sell-down of S-REITS opens up bargain hunting opportunities. Our S-REITs picks are Cambridge, Mapletree Greater China Commercial Trust and Frasers Commercial Trust. Separately, Ascendas REIT suffered worst among the S-REITs, down 16% since May 10. Technically near-term support is at about $2.30 with rebound resistance at $2.43 and $2.50.

With talk of stimulus cut-back and with that hopes of a pick-up in economic recovery, we see room for selective interest among 'risk-on' stocks. One area that we have highlighted is the O&G stocks as the jack-up market has stayed tight. Our picks are Keppel Corp for large cap, Nam Cheongand CSE Global for small caps.

SembCorp Industriesannounced that the Vietnamese government has approved its 1200 MW coal-fired power project in central Vietnam to be included in the country's national power development plan for the 2011-2020 period. SCI will be the owner and developer of this project under a BOT arrangement. This coal-fired plant in the Dung Quat Economic Zone will be located in central Vietnam's Quang Ngai province where SCI is already developing a 6000 hectares industrial park. Financial details and contributions are preliminary at this juncture as SCI is still conducting feasibility studies. Development is positive but no change to TP of S$4.80 and Hold recommendation.

Biosensors has entered into a licensing agreement with Eurocor GmbH, a group company of Opto Circuits (India) for their Drug Eluting Balloon (DEB) technology and related intellectual property (IP) rights in relation to the treatment of both coronary and peripheral artery disease. As a first step in this process, an Original Equipment Manufacturer (OEM) arrangement is being implemented, whereby Biosensors will market and sell, under its own brand, DEBs manufactured by Eurocor.

Swiber Holdingsannounced that the Group is exploring options to establish Islamic Trust Certificates Programme to broaden and deepen its investors' pool.

Global Yellow Pagesis undertaking an $88m capital reduction. It is seeking shareholder approval to reduce its share capital to $68.05m, from $155.8m, in order to write off an $87.7m impairment of intangible assets taken in the quarter ended Dec 31, 2012. Those intangible assets specifically refer to goodwill that Global Yellow Pages incurred in 2003 as it acquired the SingTel Yellow Pages business as part of the initial public offering process.

ISDN Holdings has entered into an agreement to acquire 80% stake in PT Potensia Tomini Energi (PT PTE) for IDR8 bn (approximately S$1,04m). PT PTE is a company incorporated in Indonesia that will be engaging in the business of constructing, operating and maintaining hydropower plants and the production of electric power in Central Sulawesi, Indonesia. PT PTE has an exclusive concession to develop a hydropower plant with a capacity of up to 20 megawatts.

JB Foods expects to report a net loss for the Group for 2Q2013 and 1H2013. The expected loss is mainly attributable to the continued unusual cocoa market consolidation that was previously highlighted in the Group's 1Q2013 results announcement. The unusual market consolidation has further lowered the average selling price of the Group's cocoa powder. The cocoa powder industry is dominated by a few major players and any consolidation in the industry would have an impact on cocoa powder prices.

Healthway Medical Corp announced that its Investee company, International Healthway Corporation (IHC) has lodged a preliminary offer document on the Catalist of the Singapore Exchange Securities Trading. IHC, a PanAsian integrated healthcare services and facilities provider, is primarily focused on the resilient and high growth healthcare sector by providing healthcare services through the development, investment and management of medical real estate, healthcare-related assets and integrated mixed-use developments.

Bank loans in April grew at a rapid clip though growth continued to slow on a month-on-month basis, amid concerns over debt servicing. Total loans in April rose 20% y-o-y to $522.3 bn, accelerating for a fourth straight month. In March, they were 19.7% y-o-y.  On a monthon-month basis, credit seemed to be slowing though - it rose 0.9% over March which was 1.5% higher than February. Credit growth in February gained 2.1% from January. The strong credit growth was driven by business loans while consumer loans continued to show healthy gains. Business loans rose 23.7% y-o-y and one per cent from the previous month. Gains were led by building and construction, general commerce, financial institutions and business services. Manufacturing loans were flat on a month-on-month basis after surging in March. Bank lending to manufacturers in March shot up 65.7% y-o-y to $34.6 bn and up 15.5% over February. Consumer lending gained 15% y-o-y and 0.7% from a month ago, with housing loans up 16% y-o-y and 0.8% from a month ago.

Source: DBSV