STOCKS | Staff Reporter, Singapore

Daily Markets Briefing: STI up 1.41%

Brace for a pullback today.

According to OCBC, although Wall Street ended higher overnight, it could be playing “catch up” as the US markets were shut on Monday; US index futures have started to turn down, and the Nikkei is also currently down 0.2% in early trade.

And as expected, we saw the STI make a test of the key 2600 support yesterday, which held up, hence resulting in the 1.4% rise.

Here’s more from OCBC:

But the recent strong gains of nearly 5% over the last three sessions could be due for a correction, especially if the STI fails to clear the next hurdle at 2650.

We may see another test of the key 2600 support; and as long as this level holds, the STI could still rise further towards 2700 thereafter. 

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.