Daily Market Opinion for 18-Nov-2014

It was a bad start of the week for STI yesterday as the Asia market reacted bearishly to Japan’s recession status. Many market participants were surprised by the announcement and were rushing to exit the market in case of more bearish news being unveiled. STI opened slightly lower yesterday and hit a high of 3314 level before the recession news came in. Market started to plunge deeper in red quickly as the news starts to spread. Within the day, STI was seen testing a low of 3285 level before closing. STI ended at 3288.67 level with 27pts down. Last night, DJI did not get affected by the bearishness and close with 13.01pts up. Will STI start to digest the impact of Japan’s recession today and start to stage a rebound? Or will STI feel more impact from this recession news?

The expected continuation ...