Daily Market Opinion for 05-Mar-2013

STI started the week with a bearish start due to China’s announcement of property cooling measures. This announcement sends jitters to property counters with exposure to China market. STI opened with flat as participants felt that positiveness from DJI can help to counter the negativity, but after HSI opened with strong bearish sentiment, STI failed to sustain its current level. The selling pressure was gradual during the day but when STI breaks its recent low of 3250 level, flood gates of seller starts to flow out. This caused STI to hit as low as 3234 level before it manages to close at 3239 level. This bearish day had led STI to trade 29.55pts lower for the day. Last night, DJI was able to continue to trade higher with 38.16pts higher. Can STI rebound with the positiveness from DJI? Or will STI continue to ...