
Daily Markets Briefing: STI UP 0.07%
Brace for pullback today.
According to OCBC, the pullback on Wall Street overnight amidst the odds of Fed rate hike could spark a similar correction in the local bourse.
Here’s more from OCBC:
We believe that the STI will continue to trade around the key 2820 level for now; we peg the next support and resistance at 2800 and 2900, respectively.
Overall volume jumped 16% with 1.2b units traded, and total value decreased by 4% to S$0.7b; while average value/unit fell 17% to S$0.62.