Published:
Daily Markets Briefing: STI down 0.1%
Expect a turnaround today.
According to OCBC, the further climb by the US indices overnight is likely to offer some support to local sentiments this morning.
Here's more from OCBC:
Meanwhile, the STI displayed signs of hesitation after nearing the 3360 key resistance briefly yesterday; this obstacle could remain a tough hurdle to overcome in the near term.
As such, we could see the index consolidating further around current levels today, as investors await more positive market catalysts.
On the downside, we still see the immediate base at the 3315 resistance-turned-support, followed by the next support at the 3270 level.
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