DJI rose on strength in the energy sector and Barclays’ comment stating pretax profit for 2008 to be ‘well ahead’ of analysts’ estimates.
Market will be closed on Monday in celebration of Martin.L King’s birthday.

STI closed up 26.39 points to 1730.45.

Events to note:

• National Bureau of Statistics of China due to announce 2008 GDP data this week.
• Microsoft Corp is considering “significant” layoffs across various divisions that could be announced as early as this week.
• Obama inauguration on 20 January and Singapore Budget on 22 January

STI gap resistance at 1760 and support at 1639.

Results:

1. M1 FY08 revenue down 0.3%, earnings down 12.6%
2. BH Global FY08 revenue up 15%, earnings up 10%

Profit Warning

1. Tat Hong
2. Adventus
3. Uni-Asia Finance
4. Jiutian Chemical

Others:

1. JES: US$160m orders cancelled by clients