
Daily Markets Briefing: STI down 0.32%
Brace for a pullback today.
According to OCBC, the mixed showing on Wall Street overnight could keep local sentiment fairly cautious and see the index drifting sideways today.
Here’s more from OCBC:
We peg the immediate support at 2800, ahead of its next support level at 2740; on the upside, we continue to peg the initial hurdle at 2875, ahead of 2900.
Overall volume shrank 4.4% with 1.95b units traded, and the total value tumbled 23.8% to S$1.1b; with average value/unit shedding 20.3% to S$0.56.