Published:
Daily Markets Briefing: STI up 0.27%
Brace for pullback today.
According to OCBC, despite the STI’s late rebound yesterday, the mostly muted showing on Wall Street overnight could keep local sentiment fairly cautious; investors will probably also need time to digest the latest quarterly results from the two local banks- OCBC and UOB.
Here’s more from OCBC:
As such, we are likely to see the STI continuing to range trade around 2940, with 2985 being the upper limit and 2900 the lower one.
Overall volume slipped 13% to 1.46b units traded, while total value dropped 18% to S$0.87b; this causing average value/unit to fall 6% to S$0.59.
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