Daily Market Opinion for 27-June-2013

STI managed to continue its rebound yesterday as news of China’s central bank’s decision to ease credit liquidity lifted up the beaten mood. STI opened with a gap up as it reacted to DJI’s positive opening. However, it faces some selling pressure during the morning session as some market participants made use of the bullish opportunity to sell into strength. However, the buyers were positive about the current rebound and decided to push the market higher during the mid day which caused STI to hit as high as 3118 level. Before market’s closing, the market participants decided to stay cautious and sellers were into the market to take some profit. This caused STI to close at its opening level at 3104 level with 14.47pts up today. Last night, DJI continues to trade higher with 149.83pts up. Will STI continue to rebound higher today? ...