Published:
Daily Markets Briefing: STI up 0.2%
Expect a pullback today.
According to OCBC, the muted reactions on Wall Street last Friday night are unlikely to have much impact on the local bourse this morning.
Here's more from OCBC:
Meanwhile, the STI recovered as much as 0.5% intraday in the last session, but fell back into the 3300-3310 resistance and ended just 0.2% higher by the close.
With investors clearly still feeling jittery about the broad market outlook, we could potentially see the index sliding towards the 3230 key troughs today.
Beyond 3300-3310, we still see the next hurdle at the 3350 peaks. On the downside, we peg the subsequent base at the 3180 key resistance-turned-support.
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