Published:
Daily Markets Briefing: STI up 0.3%
Index likely to inch higher, says analyst.
OCBC Investment Research said:
The strong Nikkei start (up 2.5% now) could provide a mild positive cue to the local bourse this morning.
As a recap, the STI continued to consolidate around the 3000 to 3070 trading range in the last session, after a mild 0.3% gain.
And with today’s tone likely to remain a tad more upside biased, we could see the index inching higher towards the 3070 key hurdle.
Below the 3000 key psychological support, the subsequent base lies at the 2930 key trough. Meanwhile, the next obstacle is marked at the 3130 support-turned-resistance.
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