Daily Market Opinion for 08-Jan-2015

STI have finally halted it’s descend and it even managed to clock a rebound yesterday despite the falling oils prices and Euro concerns. The day opened flat but it soon to face some selling pressure in reaction to US market’s bearish closing. This made STI hit a low of 3267 level before it starts to rebound. Bargain hunters were seen entering the market which pushed STI backed up to previous day’s levels. In the mid of the day, STI had even managed to hit a high of 3309 level before some weak holders started to exit the market. For the rest of the day, STI was seen struggling to go beyond 3300 level. Hence, during closing, STI ended the day at 3298.36 level with 16.41pts up. Last night, DJI rebounded firmly with 212.88pts up. Can this rebound continue today? Will the falling …