News
STOCKS | Staff Reporter, Singapore
view(s)

Daily Markets Briefing: STI up 0.49%

Expect muted gains today.

According to OCBC, the overnight correction on Wall Street and the still-soft US index futures could spark a similar sell-down in the local bourse this morning; the Nikkei has fallen some 1.7% in early trade.

Here’s more from OCBC:

While the STI continues to remain well above the initial 2650 support, we note that the index could lack near-term momentum to make a test of the key 2700 hurdle; price action yesterday also suggests that the recent rebound could be running out of steam.

And with the local results season drawing to a close soon, the lack of corporate news could also keep more investors on the sidelines, while waiting for better levels to re-enter the market.

As such, we could see a test and possible breach of the initial 2650 support; but we expect the 2600 support to hold for now.  

Do you know more about this story? Contact us anonymously through this link.

Click here to learn about advertising, content sponsorship, events & rountables, custom media solutions, whitepaper writing, sales leads or eDM opportunities with us.

To get a media kit and information on advertising or sponsoring click here.