Singapore market (02 Jan 13)

Singapore market: may rise on the first trading day of 2013, amid renewed optimism about a deal among U.S. lawmakers to avert higher taxes and reduced spending this year. Sias says, the optimism is fuelled by the hope of a possible deal, from the U.S politicians to avert the fiscal cliff. Adds, sentiment may get a further lift from positive manufacturing PMI data from China, adding evidence that the recovery in the world's second biggest economy will extend into the new year. On Monday, the STI closed 0.8% lower at 3,167.08; the STI rose 19.7% in 2012. Sias sees immediate resistance pegged at 3,194 while support is between 3,139 and 3,150.