Daily Market Opinion for 12-Mar-2014

STI faced a flat day despite its attempt to rebound during the day. With negative closing by DJI on the previous day, STI was seen opening low at 3126 level. However, buyers started to enter the market through the commodities sector which pushes STI to 3145 level. But weak HSI opening started to attract profit takers into the market and thus, STI experienced selling pressure for the rest of the day. The selling pressure was gradual and caused STI to return close to its opening level. STI ended the day with 2.77pts up; closing at 3129.4 level. Last night, DJI closed with 67.43pts down. With its failed attempt to rebound firmly, will STI be able to continue to trade higher today? Or will the weak DJI closing drag STI to consolidate further?

STI was seen attempting to rebound but it failed to ...