Daily Market Opinion for 26-June-2013

STI experienced yet another volatile day yesterday as it struggled to maintain its head up above the support level of 3080. STI opened with a gap down as it reacted to DJI’s bearish closing. However, there was not much selling pressure during the opening hours and instead, bargain hunters were snapping up bargains which pushed STI higher. Weak HSI opening attracted sellers back into the market which pushed STI back to its opening level and even to as low as 3066 level. Yet again, bargain hunters were back into the market snapping bargains; shrugging off the weak performance of HSI market. Before closing, HSI rebounded from its low and close flat. This greatly elevates STI’s buying strength and helped STI to close with 15.62pts higher. STI ended above 3080 level as its closing is at 3089 level. Last night, DJI closed with 100.75pts ...