Published:
Daily Markets Briefing: STI down 0.3%
Expect a rebound today.
According to OCBC, the mild gains on Wall Street overnight are likely to keep the local market fairly buoyant this morning.
Here's more from OCBC:
However, we expect any upside to be limited as it is a short trading session today ahead of the CNY long weekend; many local investors are likely to have taken the week off by now.
We expect the index to trade within a narrow trading range, bounded by the 3460 immediate key resistance and the 3377-3388 gap support.
Above 3460, we still see the next hurdle at the 3500 psychological resistance. On the downside, the next support lies at the 3300 psychological level.
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