Daily Market Opinion for 12-Mar-2013

Daily Market Opinion for 12-Mar-2013

STI started the week flat as market participants continue to take a cautious stance despite positiveness from the US market last Friday. The bullishness was tampered off by the weak economic data from China market which draws concerns in the local market. The start of the day was slow as market open flat despite positive closing by DJI one the previous night. There was some selling pressure being noticed in the early trade but STI was able to overcome it and started to head higher during the noon trade. However, the bullishness started to flatter off before market closing which caused STI to return most of its gains of the day. Eventually, STI closed with 3.44pts higher only, ending at 3292 level. Last night, DJI continued its strong historical high performance by closing with 50.22pts higher. Will STI be able to test its …