Daily Markets Briefing: STI up 0.2%

Expect limited gains today.

According to OCBC, while Wall Street closed higher overnight, US index futures are lower after market; fear of further weakness in the Chinese markets could also start to weigh on local sentiment (HSI futures are down 3% at the moment).

Here's more from OCBC:

As such, the local sentiment could continue to remain pretty cautious, making it tough for the STI to overcome the key 3357 resistance in the near term.

On the downside, the key support remains at 3302, ahead of 3291; although we may get some minor support around 3323 (upper downtrend channel resistance-turned-support).

Above 3357, the next hurdle is at 3373.

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