Published:
Daily Markets Briefing: STI down 0.4%
Will today's sentiment improve?
OCBC Investment Research said:
The rebound on Wall Street overnight could provide some inspiration for the local bourse this morning.
After slipping another 0.4% yesterday, the STI could temporary halt its decline today with an improved short-term sentiment.
Despite this, we still see a high possibility of the index falling further towards the immediate base at the 3155 minor trough subsequently, with the next base lying at the 3120 key troughs.
On the upside, we still peg the immediate obstacle at the 3200 support-turned-resistance, followed by the next hurdle at the 3230 minor peaks.
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