
Daily Markets Briefing: STI up 0.9%
Expect modest gains today.
According to OCBC, gains on Wall Street overnight could keep the local bourse fairly upbeat, but further sharp gains may be limited.
Here’s more from OCBC:
We peg the immediate support around 2900, ahead of the key 2885 psychological level; on the upside, we peg the initial hurdle at 2960, following which would be the 2990 level.
Overall volume picked up yesterday , +6.05% with 1.8b units traded, while total value jumped 31.2% to S$1.3b; average value/unit gained 40% to S$0.70.