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Daily Markets Briefing: STI up 0.1%
Expect strong gains today.
According to OCBC, the strong rebound on Wall Street Friday could provide a lift to the battered local sentiment; the Nikkei has surged 4.3% in early trade.
Here's more from OCBC:
But with the US markets shut tonight, as well as the restart of the Chinese markets after the CNY break, overall tone could still remain somewhat cautious.
As before, investors will be watching the key 2600 level closely again; continued failure by the STI to convincingly regain that level could spark more selling into strength and send the index back towards 2500 in the near term.
Above 2600, we peg the next hurdle at 2650, ahead of the key 2700 psychological barrier
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