Daily Markets Briefing: STI down 0.6%

Expect muted trading today.

According to OCBC, the mixed reactions on Wall Street overnight are unlikely to have much effect on the local bourse this morning.

Here's more from OCBC:

With the Federal Reserve due to make an announcement on its meeting outcome tonight, local investors could potentially sit on the sidelines for today.

Nevertheless, we note that the STI fallen to its 3490 recent trough again; a break below this level will likely send the index back to the 3460 subsequent key base.

On the upside, the 3520 is now immediate obstacle to overcome, with the next hurdle pegged at the 3550 key peak.

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