SG Market: Spore shares are likely to trade in the tight range given the lack of strong cues from Wall Street as well as local corporate news to drive the market direction. Talk is growing of China now showing signs of a hard landing, with latest data revealed cracks in the soft landing argument with a stubbornly-high property market, ballooning imports, shrinking exports and a downward revision of GDP growth. Traders will also digest Chinese Premier Wen's closing remarks at the 2012 National People’s Congress meeting that the property market is still priced too high, delaying any easing of curbs on buyers. T
The STI may pull back after forming a possible double top at around 3030 level and perhaps close the gap at 2993. Swiber may slip on private-placement plans. Resources plays such as Noble may also see some weakness after recent commodity-price declines
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