Daily Markets Briefing: STI up 0.3%

Expect another rebound today.

According to OCBC, with the US indices staging a rebound overnight, this could keep local sentiments fairly buoyant this morning.

Here's more from OCBC:

Meanwhile, the STI has started to show signs of halting its recent sharp decline with a 0.3% recovery yesterday; it could be poised for a technical rebound any time now.

With today’s tone likely to remain more upbeat, we could see the index climbing further in the direction of the 3390 support-turned-resistance.

On the downside, we still see the immediate support at its 1.5-year key uptrend support (around 3330).

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