Daily Market Opinion for 28-Aug-2013

Daily Market Opinion for 28-Aug-2013

It was another day of bloodshed for STI as traders flee the market, attributing to the withdrawal of investments in Asian market. The day started with a strong gap down action at 3065 level as the market reacted to the weak DJI closing on the previous night. Attempts to cover the gap was successful during the 1st hours but when it hit a high of 3077 level, sellers just flood the market to push the index  much lower. There was no much rebound attempts during the rest of the day as sellers were eager to exit the market whenever there were any rebounds. This made STI to hit as low as 3027 level before closing at 3034 level. This bloodshed had made STI lost a total of 50.39pts yesterday. Last night, DJI continues to head lower as concerns of the QE program continues …