Daily Markets Briefing: STI down 1.71%

Expect more gains today.

According to OCBC, with the generally modest gains on Wall Street, we could see the STI trading with a slight bearish bias, as concerns on O&G plays may continue to weigh on sentiment.

Here's more from OCBC:

We peg the initial key support at 2856 and a break could send the STI slipping further towards 2800. On the upside, we keep the initial cap at 2950, ahead of 2985.

Overall volume rose 1% to 1.495b units traded, while total value climbed 67% to S$1.48b; average value/unit was higher at S$1.01.

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