Published:
Daily Markets Briefing: STI down 0.2%
Not much to expect today.
Local investors are still hesitant about pushing the STI beyond the 3360 recent peak in the near term following a 0.2% correction yesterday.
According to OCBC Overnight Market Commentary, the mixed reactions on Wall Street overnight are unlikely to have much impact on the local bourse this morning.
Here’s more from OCBC:
And with today’s tone likely to turn more consolidative in nature, we could see the index swinging around current levels capped by the 3360 immediate resistance and 3310 recent trough support.
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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