Daily Market Opinion for 19-Dec-2013

It was an uneasy day for STI yesterday as market participants were fearful of US Fed’s decision of tapering. It was a mood of cautiousness yesterday which ended up lacking of much trading activities. During the opening, STI failed to sustain above 3065 level and opened below it. Market was anticipating Fed to implement tapering to their stimulus package today. However, there was a stream of buyers entering the market to push STI back towards 3065 during the day. A high of 3070 level was reached before STI retraces back to its opening level. At the end of the day, STI managed to stay close to 3065 level by closing at 3061 level. 5.79pts was lost despite a weaker opening. Last night, DJI closes with 292.71pts up despite Fed’s decision to taper the stimulus package. The reaction was positive in US market. Can ...