Daily Markets Briefing: STI up 0.5%

Expect more positive news today.

According to OCBC, the rebound on by the US indices overnight could cue the local bourse to a positive opening this morning.

Here's more from OCBC:

After halting its decline at the 3270 support with a 0.5% rebound yesterday, the STI could be poised for a further recovery in the direction of the 3370 key resistance.

Meanwhile, we continue to peg the subsequent key resistance at the 3460 level. On the downside, the next base is still marked at the 3240 resistance-turned-support.

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