Daily Market Opinion for 05-Sep-2014

Daily Market Opinion for 05-Sep-2014

STI ended with a flat day yesterday despite its attempts to retrace yesterday. Russia and Ukraine situation continues to be the main concerns of the market. Hence, STI opens with a gap down yesterday and attempted to trade lower. A low of 3334 level was reached yesterday as there was lacking of market confidence. Market participants still doubted on the possible cease fire from Russia. But still, STI is able to recover part of its losses by rebounding before market closes. With this rebound, STI is able to close at its high of the day at 3346.34 level. This helped STI to close with only 2.43pts down. Last night, DJI also ended slightly down with 8.70pts down. Will STI be able to maintain its current levels today?

STI had actually failed to continue its bullish streak yesterday. This means that STI might …