Published:
Daily Markets Briefing: STI down 0.1%
Expect another pullback today.
According to OCBC, the retreat by the US indices last Friday night could dent local sentiments further this morning.
Here's more from OCBC:
Despite recovering as much as 0.3% intraday in the last session, the STI eventually stumbled to a 0.1% loss at the close; the 3360 still proved a difficult obstacle to overcome for now.
And with today’s tone likely to remain more downside biased, we could see the index sliding back in the direction of the 3310 lower boundary.
Above 3360, the subsequent obstacle still lies at the 3380 key peak. On the downside, the next support is pegged at the 3280 key trough.
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