Daily Markets Briefing: STI down 0.56%

But expect some support to the local bourse this morning.

According to SGX, the Straits Times Index (STI) ended 16.24 points or 0.56% lower to 2869.47, taking the year-to-date performance to -0.46%.

According to OCBC, as Wall Street recorded generally modest gains, this could provide some support to the local bourse this morning, but local sentiments may remain fairly cautious.

"The STI had failed to clear the key 2880 level convincingly in the previous session. We could see it head back up towards this level, while we continue to keep 2845 as our immediate support. Overall volume rose 8% with 1.9b units traded, and the total value jumped 25% to S$1.1b; while average value/unit was up 16% to S$0.58," OCBC adds.