Daily Markets Briefing: STI up 0.2%

Expect a decline today.

According to OCBC, the poor US job data announced last Friday is likely to spook the local bourse to a negative start this morning; the US index futures are down more than 0.7% at the moment.

Here's more from OCBC:

This will become a further obstacle to the STI in its recent attempt to overcome the 3460 key hurdle; we could see the index sliding lower again in the direction of the 3400 immediate support today.

Below 3400, the next base lies at the 3360 key resistance-turned-support. On the upside, the subsequent resistance is pegged at the 3500 psychological level.

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