Daily Markets Briefing: STI up 0.4%

Expect a correction this morning.

According to OCBC Overnight Market Commentary, the retreat on Wall Street overnight and the poor Nikkei start (down 2% now) are likely to spook the local bourse into a correction this morning.

Here’s more from OCBC:

As such, we could potentially see the STI breaking the 3320 immediate support today and slip further towards the 3270 subsequent support in the days ahead.

Meanwhile, we still see the immediate key hurdle at the 3370 key peak, with the subsequent obstacle pegged at the 3410 minor peak.

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