Daily Markets Briefing: STI up 0.5%

Upsides will be limted today.

According to OCBC, the rebound on Wall Street overnight could offer some support to the local bourse today.

Here's more from OCBC:

However, any upside is likely to be limited as investors still appear hesitant about the near term market outlook; the STI ended just 0.5% higher yesterday despite rallying as much as 1% intraday.

For now, we are pegging the immediate resistance to the 3360 key peaks, with the subsequent hurdle marked at the 3390 key peak.

On the downside, 3270 is the immediate base with the next support lying at the 3210 level.

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