Daily Market Opinion for 22-Nov-2013
It was the third consecutive day of slide for STI yesterday. Concerns of US tapering heighten as reports are stating that tapering can happen in the upcoming few meetings if the economic data remains good. Weak economic data from China also impacted on our market sentiment yesterday. With such concerns, STI opened with a gap down which broke 3180 level immediately. Sellers were rushing to exit the market during the morning session which caused STI to hit a low of 3158 level. Some bargain hunters made use of this situation to enter the market in hope that a rebound could occur. Hence, STI was able to recover during the afternoon session to end at 3172 level. Due to its gap down closing, STI closes with 11.85pts down. Last night, DJI managed to make gains of 109.17pts despite the bad sentiment. Will this help ...
...