Daily Markets Briefing: STI down 0.5%

Expect a postive start today.

According to OCBC, the continued recovery on Wall Street overnight is likely to cue the local bourse to a positive start this morning.

Here's more from OCBC:

Meanwhile, the STI still could not conquer the 3430 resistance yesterday as it registered a 0.5% retreat.

But with today’s tone still generally supportive, we could see the index continue to hover just below this key obstacle or even make an attempt to overcome it.

Should this 3430 key obstacle be convincingly taken out, we expect the index to continue its march towards the 3460 subsequent key peak.

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