Singapore market (09 Apr 13)

Singapore market: may take cue from gains in the US overnight to open higher this morning. In the region, the Nikkei is up 0.9% at 8.10am. Abe-nomics and the Japan central bank monetary easing may continue to stimulate growth in asset prices, both in Japan and globally, as market watchers note spill over effects. Nevertheless, near term concerns with regard to bird flu in China and rising tensions brewing from North Korea may continue to affect market volatility. Technically, the STI continues to trade rangebound, btwn 3235 – 3330. The rising key moving averages suggest a longer term positive bias, although the near term indicators suggest a slight pull back from current levels.