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Daily Market Opinion for 21-Jun-2012

STI inch up yesterday as the market continues to be cautious after the Greek Election result. STI opened slightly higher in reaction to DJI’s previous night closing and managed to sustain the gains despite some selling being seen during the early trading session. Trading activity was light while prices creep up slowly. Eventually, STI is able to end at 2855 level with 13.27pts higher.

Daily Market Opinion for 20-Jun-2012

STI was the sole bullish market in the Asian yesterday as STI continues to seek for a higher level in hope of easing Euro situations. STI managed to open at 2830 level and maintained above this level during the day. Cautious buying was seen but sellers seem to be lacking throughout the day. Hence, STI manages to creep up slowly during the day and eventually close at 2842 level.

Daily Market Opinion for 19-Jun-2012

STI was buoyant by the results of the Greek Election as the party with pro-bailout plans was being elected. With such buoyant mood, STI gapped up strongly as fears of European Crisis starts to ease. The opening price immediately reached 2849 level which broke the resistance level of 2830.

Greek pro-bailout parties won the election. STI might head further.

Last week, STI was up by 73.11pts despite the possibilities of the Greek exiting the EU after its election on Sunday. Many were concerned about the outcome of the Greek election and choose to stay cautious during the week. However, risk takers and bargain hunters were seen throughout the week to pick up long positions which caused STI to trade with an upside tendency.