Spore market

Spore market: regional indices open lower, and point to a soft start in the Spore market.
The Nikkei 225 and KOSPI are down 0.9% and 0.3% respectively (at 8.17am).

Although Wall Street closed flattish, overnight news flow generally not positive.
In the US, opponents of Obama’s US$447b jobs plan had enough votes to block the measure in the Senate, with at least one Democrat joining
Republicans to derail his prime proposal to help turn around the struggling economy.
In Europe, Slovakia has voted not to approve the EFSF amid political turmoil. All 17 countries that use the euro have to ratify the measures, and Slovakia’s delay in agreeing may reignite contagion concerns regarding the debt crisis. No time for a new vote has been set.
In Spore, the MAS warned of slower economic growth over the coming yrs on global weakness.

On corporate news,
Noble takes stake in Indonesian coal miner Atlas Resources’ IPO.
ASL announces shipbuilding contracts worth $267m.
Swiber announces US$102m orders for offshore construction projects.
Technics Oil & Gas secures 3 EPCC contracts worth $8.1m
Tiger Air reports Sep passenger volume (-15% yoy).
ST Engrg teams up with General Dynamics C4 Systems to provide military rugged pdts, with potential to earn up to US$250m over 5 yrs from the partnership.
Wanxiang Int’l: majority sh/h makes privatization offer of $0.20/sh vs last close at $0.139.