Daily Markets Briefing: STI up 1%

Expect more gains today.

According to OCBC, local sentiment could continue to get a boost from the firmer Wall Street close overnight as well as news of a new bail-out package for Greece; Nikkei is about 1.3% higher in early trade.

Here;s more from OCBC:

However, the weaker-than-expected advance GDP estimates out this morning could take some shine off, especially after the STI’s 1.9% gains over the past three sessions.

As before, the index could face a tough test at 3357 – we may see profit-taking if it fails to crack it once again.

On the downside, the first support can be found at 3302, ahead of 3266.

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