In last week, STI gains 48 points from the opening of 2963 and close higher at 3011. A white candle sticks with long upper shadow affirms on the profit taking of the investors.

Key Economics Data report:

The dramatic rise in rates in the past week shocked the investors after the Federal Reserve Tuesday ended its rate meeting with no new sign that it would carry out another so-called quantitative easing program.

Rising rates are not seen as positive for stocks, but rates are so low and analysts do not expect yields to rise so much they would challenge equities.

Technical Analysis on STI

STI index has closed slightly above the critical support of 3005 after investors decided to cash out for profit.

1) In weekly chart, a white candle sticks with long upper shadow which affirms investors prefer to take profit off table instead of buying higher.

2) The weekly trading ...