Published:
Daily Markets Briefing: STI down 0.3%
Don't expect good news today.
According to OCBC, the more than 1.5% plunge on Wall Street overnight could spook the local bourse to a poor start this morning.
Here's more from OCBC:
After a 0.3% pull-back yesterday, the STI has seemingly failed a retest at the 3270 support-turned-resistance.
And with today’s tone likely to remain bearish, we could see the index falling further and potentially breaking the 3220 immediate support next.
Below 3220, the next base lies at the 3180 resistance-turned-support. On the upside, the subsequent resistance lies at the 3310 recent peak.
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