Daily Market Opinion for 18-Jul-2014

Daily Market Opinion for 18-Jul-2014

Indecisiveness plagued the market again yesterday. STI only managed to inch up slightly as it was trading in red for the most of the day. STI started the day flat while it attempted to trade higher due to positive closing by DJI on the previous night. However, STI started to lose ground when it tested a high of 3309 level. This caused STI to seek a low of 3298 level before it started to rebound a little. Trading volume continues to be on the low side yesterday as market participants are still not willing to return to the market. Eventually, STI managed to close at 3306.89 level with only 2.46pts up. Last night, DJI was seen dropping by 161.39pts due to concerns of the Malaysian airline plane crash. The plane crash could be due to the tension between Ukraine and Russia. Will …