Singapore market (11 Dec 12)

Singapore market: may see a muted open this morning, following flattish markets in US and Europe, amid lack of major news flow and fresh developments on the fiscal cliff front. In the region, KOSPI is up 0.4%, while Nikkei is down 0.2% at 8.02am. Technically, the STI closed at its low point of the day yday, but still above its 52 wk high. The key indicators are in overbought territory, which raises the odds of a pullback in the near term. But if the index can sustain above 3,111, next resistance would be around the 3,200 level. Corporate news flow is dry today.