Daily Markets Briefing: STI opens higher

Today might bring even better news.

The Straits Times Index opened 9.02 points higher on Monday. According to OCBC, the continued recovery by the US indices last Friday night is likely to keep the local bourse fairly buoyant this morning.

Here’s more:

US equities rallied further into record territory Friday after a solid jobs report, leaving the S&P 500 and Dow industrials with their strongest weekly performances since mid-April.

As such, we could see the STI (recovered some 0.6% in the last session) continuing its push towards the 3330 immediate resistance today.

Above that, the next hurdle lies at the 3360-3370 key gap zone. On the downside, we still see the immediate base at 3280 resistance-turned-support, followed by the subsequent support at the 3220 key trough