Daily Markets Briefing: STI down 0.41%

Brace for extended losses today.

The Strait Times Index (STI) ended 11.56 points or 0.41% lower to 2831.06 on Friday, taking the year-to-date performance to -1.79%.

This came after The Dow and S&P 500 on Friday finished near break-even, but ended well off their lows of session.

According to OCBC, this muted showing on Wall Street Friday could weigh on the local sentiment today, extending the 0.41% loses in the previous session.

"With today’s tone likely to be cautious, we could see the index easing towards its 2800 support level," the brokerage firm noted.

Here's more from OCBC:

Gold for Dec delivery rose 20 cents, or 0.02%, to close at US$1267.70/ounce while Dec Silver shed 6 cents, or 0.32%, to settle at US$17.49/ounce. For the week, Gold and Silver climbed by 0.97% and 0.30% each.

On the upside, we peg the initial hurdle at 2865, ahead of its next resistance level at 2900.

Overall volume dipped 15.2% with 1.6b units traded, and the total value dropped 18.5% to S$0.7b; while average value/unit fell 3.9% to S$0.46.

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