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Olam Makes Brazil Sugar Foray With US$240 Mln Investment!
By Dou  •  May 30, 2012

On 30/May, Singapore shares ended lower as hopes for a large Chinese stimulus package were dashed and concerns about Spanish banks resurfaced.

STI ended lower at 2783.95 (0.6%) with LOW VOL of 1.15 billion shares traded compared with 1.47 billion shares Tuesday. In the broader market, losers outnumbered gainers 251 to 104. Today STI undergo heavy selling pressure as investors sell on headline risk coming from Europe

Headline in STI

Before Market Open

Olam International Ltd. (O32.SG) will pay US$240 million to buy a sugar miller in Brazil.

Technical Analysis on STI

Immediate Resistance of STI: 2802

Immediate Support of STI: 2767

MY sentiment on STI: STI continue to consolidate under tight base width as the index trend under low trading volume. The selling pressure has clearly eased. It could be a good opportunity for small investment in this week if interested.

Olam Makes Brazil ...

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By Dou
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