
Daily Markets Briefing: STI up 0.3%
Expect another rebound today.
According to OCBC, with the US indices staging a rebound overnight, this could keep local sentiments fairly buoyant this morning.
Here's more from OCBC:
Meanwhile, the STI has started to show signs of halting its recent sharp decline with a 0.3% recovery yesterday; it could be poised for a technical rebound any time now.
With today’s tone likely to remain more upbeat, we could see the index climbing further in the direction of the 3390 support-turned-resistance.
On the downside, we still see the immediate support at its 1.5-year key uptrend support (around 3330).