Asian bulls stall

Most Asian stock markets fell today. Among the larger markets, the biggest loser was Korea, where the Korea Composite Index fell 10.91 points or 1.1 percent to 977.80. Another heavy loser was Singapore, where the Straits Times Index fell 19.65 points or 0.9 percent to 2146.73. This pulls it away from the 2,168.86 level it hit last Friday, its highest level since the year 2000.

In my commentary yesterday entitled "STI approaching level of last major peak", I discuss why the 2,200 level is an important level for the Straits Times Index.