Daily Market Opinion for 10-Apr-2013

STI exceeded the bearish expectation and rebounded firmly yesterday as positive economic data from both US and China side. Due to positive closing by DJI on the previous night, STI opened with a positive opening. Buyers slowly entered the market but stronger buying strength appeared when the HSI opened with a positive note. The buying strength stopped before lunch and managed to reach as high as 3308 level before the market enters a plateau. Trading activity was then seen to be low during this period. More trading activities only happened after the European market opens. During this period, profit taking actions seems to seep into the market as market participants were afraid of holding overnight positions. Eventually, STI close at 3296 level with 11.96pts higher. Last night, DJI closed with 59.96pts higher. Will STI be able to continue its rebound today? Or will ...