Daily Markets Briefing: STI up 2.0%

Negative opening seen this morning.

The retreat by all major US indices overnight could spook the local bourse to a similarly negative opening this morning.

OCBC’s Overnight Market Commentary reveals that the STI continues to consolidate within the 3310 to 3360 horizontal trading band, following yesterday’s 0.2% mild recovery.

OCBC says that with today’s tone likely to turn more downside biased, the index could be seen sliding lower in the direction of the lower band again.