Daily Markets Briefing: STI up 0.2%

Expect a pullback today.

According to OCBC, the mixed reactions on Wall Street overnight could cast a pall over the local bourse this morning.

Here's more from OCBC:

Following its recent significant correction, the STI seems to have found a near term support at the 3500 psychological level with a 0.2% rebound yesterday.

And with today’s tone likely to be fairly muted, we could see the index consolidate around current levels, as local investors take a back seat and wait for further market catalysts to emerge.

On the upside, we still see the immediate resistance at the 3550 key peak.

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