Published:
Daily Markets Briefing: STI up 0.2%
Expect a pullback today.
According to OCBC, the mixed reactions on Wall Street overnight could cast a pall over the local bourse this morning.
Here's more from OCBC:
Following its recent significant correction, the STI seems to have found a near term support at the 3500 psychological level with a 0.2% rebound yesterday.
And with today’s tone likely to be fairly muted, we could see the index consolidate around current levels, as local investors take a back seat and wait for further market catalysts to emerge.
On the upside, we still see the immediate resistance at the 3550 key peak.
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