Daily Markets Briefing: STI closed flat

Expect muted trading today.

According to OCBC, with US market closed overnight for holiday, the local bourse is likely to open on a generally muted tone this morning.

Here's more from OCBC:

Meanwhile, the STI closed flat yesterday on thin trading volume, some local investors could have started their CNY break earlier.

As such, we expect the index to continue trading range-bound, just below the 3460 immediate key resistance.

Beyond 3460, we still see the next hurdle at the 3500 psychological resistance. On the downside, the 3377-3388 gap support remains a firm base, followed by the next support at the 3300 psychological level.

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