Macro Update: China PMI weaker than expected at 50.1 after 50.5 in January. Chinese model is broken but market continue to ignore it:

http://www.bloomberg.com/news/2013-03-01/china-feb-manufacturing-pmi-at-50-1-economists-est-50-5.html

Now in Singapore - after South Africa - Budget here was balanced but with a big of focus on the social fabric which is very admirable - This was in my opinion the key statement:
"We need to intensify this economic restructuring and skills upgrading so as to achieve quality growth... If we do not do better in raising productivity, we will be caught in a situation where businesses lose competitiveness and wages eventually stagnate," Deputy Prime Minister and Finance Minister Tharman Shanmugaratnam said in his budget speech.

The offical link: http://app.singaporebudget.gov.sg/budget_2013/default.aspx

Singapore remains in my opinion one of the few pragmatic economies in the world - growth and bull markets mean everyone needs to benefit - everyone.