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Daily Markets Briefing: STI down 0.1%
Positive start this morning could be limited.
The rebound on Wall Street overnight could cue the local bourse to a slightly positive start this morning, but any gains are likely to be limited.
According to OCBC’s Overnight Market Commentary, after another generally flat reaction (down 0.1%) yesterday, the STI remains locked within its 3310 to 3360 trading band.
Going forward, the index could be swinging sideways aimlessly around current levels until a significant catalyst emerges.
Beyond 3360, the subsequent obstacle lies at the 3380 key peak. On the downside, the next support is pegged at the 3280 key trough.
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