SGX Nifty gains as 'fiscal cliff' bill clears test vote

* Nifty futures on the Singapore Exchange up 1.5
percent. The MSCI-Asia Pacific index, excluding Japan
, is up 1.56 percent.   
* Asian stocks started the new year with gains after a bill to
avert the U.S. "fiscal cliff" by canceling most scheduled tax
hikes and delaying spending cuts cleared a procedural vote in
the U.S. House of Representatives by an overwhelming margin,
indicating strong support for final passage in a vote expected
later on Tuesday. 
* The House voted 408-10 to approve a rule allowing for
consideration of the fiscal cliff bill that was passed by the
Senate early on Tuesday. 
* Traders expect markets to continue its strength from Tuesday's
lead by financial and metal stocks. 

Posted in: MARKET EYE