Daily Markets Briefing: STI down 0.3%

Expect modest gains today.

According to OCBC, despite the weaker Wall Street close overnight, the modest rebound in the US index futures could lend some support to the local bourse today; Nikkei rebounded 1.2% at open.

Here's more from OCBC:

Note that the STI also managed to claw back much of its earlier losses to close 0.3% lower; it also managed to climb back out of the downtrend channel.

However, selling into strength may still be key focus as uncertainty continues to swirl in Europe over Grexit; the index has failed to clear the key 3357 hurdle for the past six attempts.

On the downside, the key support remains at 3302, ahead of 3291; although we may get some minor support around 3325 (upper downtrend channel resistance-turned-support).