, Singapore

Daily Markets Briefing: STI up 0.9%

Further recovery is expected.

According to OCBC, with the US indices recovering more than 1% overnight, this is likely to boost local sentiments further this morning.

Meanwhile, the STI rebounded strongly at the 3290 immediate support yesterday with a 0.9% higher close; this could set the tone for a further recovery in the days ahead.

Here's more from OCBC:

We expect the index to head higher today, in the direction of 3350 immediate support-turned-resistance, as the next hurdle lies at the 3390 minor support-turned-resistance.

On the downside, we see the next base at the 3200 key trough. 

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