Daily Markets Briefing: STI rebounds 0.3%

Find out why everyone's surprised.

According to OCBC, fresh woes over the US debt situation on Wall Street are likely to weigh on local sentiment today, especially after the STI’s surprise 0.3% rebound yesterday.

Here's more from OCBC:

With the Nikkei already down 0.8% in early trade, we could see the STI drifting down to fill the 3051-3071 gap, although 3100 may provide a modest psychological support on the way down.

On the upside, we continue to peg the initial cap at 3173 (middle of Bollinger Band), ahead of several recent highs around 3260-3277 region.

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