Daily Market Opinion for 18-Apr-2013

STI traded flat yesterday as weak Singapore export figures dampen the outlook of the economy. STI gapped up during its opening initially, but it struggled to trade higher as there were sellers on the upside. A high of 3301 level was reach before selling pressure sets in. Buyers seem to shun the market and the market started to creep down slowly. It soon went into the red territory during the mid day of trade, hitting as low as 3284 level before it started to recover during the closing. Eventually, STI close at 3291 level with 0.12pts down. Last night, DJI dropped by 138.19pts; despite its efforts to rebound on the previous day. Will STI be able to continue to sustain at its current level? Or will the bearish by DJI last night cause STI to trade lower today? 

Despite the formation of ...