Published:
Daily Markets Briefing: STI down 0.4%
Index to slide further towards the 3070 mark.
OCBC Investment Research said:
The pull-back on Wall Street overnight is likely to spook the local bourse to further losses this morning.
With the STI already starting its retreat with a 0.4% loss yesterday, this suggests that investors are indeed getting wary about current market conditions.
As such, we could see the index sliding further towards the 3070 immediate support.
Below that, the next base is pegged at the 3030 level. On the upside, 3140 is still the immediate resistance (recent peak), followed by the next hurdle at the 3190 key peak.
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