STOCKS | Staff Reporter, Singapore

Daily Markets Briefing: STI down 1.43%

Expect muted gains today.

According to OCBC, although Wall Street ended higher overnight, the lower US index futures have pared the gains by over 50%; this following a weak outlook from Apple.

Here’s more from OCBC:

As such, we expect local sentiment to remain mostly cautious, and even though we may get a technical rebound (as market has fallen back into the oversold region), we could see investors again adopting a “sell into strength” approach.

As before, the continued failure to retake the key 2600 level could send the index sliding back towards 2500; breaking which, 2424 beckons.

For now, we peg the initial support at 2521, ahead of the key 2500; above 2600, we peg the next hurdle at 2650, with the key hurdle remaining at 2700. 

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.