Published:
Daily Markets Briefing: STI up 0.3%
But expect a pull-back today.
According to OCBC, the pull-back by US stocks overnight could have a negative effect on the local bourse this morning.
Here's more from OCBC:
Despite seeing a mild 0.3% rebound yesterday, the STI was still short of testing the 3430 key resistance.
As such, we could see the index drifting lower today as 3430 remains a tough obstacle to overcome for now.
Above 3430, the next hurdle lies at the 3460 key peak. On the downside, 3377-3388 gap remains the immediate support, followed by the subsequent base at the 3300 psychological level.
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