Published:
Daily Markets Briefing: STI up 0.1%
Today's tone likely to remain a tad more upside biased.
OCBC Investment Research said:
The continued recovery on Wall Street overnight is likely to offer some support for the local bourse this morning.
While the STI ended with a muted 0.1% gain yesterday, it held above the key 3200 psychological level.
And with today's tone likely to remain a tad more upside biased, we could see the index continue to consolidate around current levels or even possibly inch higher towards the 3230 minor peaks.
Above that, the next hurdle lies at the 3260 key peaks. Below 3200, the next support is pegged at the 3155 minor trough.
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