, Singapore

Daily Markets Briefing: STI up 0.3%

Expect some weakness today.

According to OCBC, continued weakness on Wall Street Friday night and an uncertain outlook for crude prices could start weighing on local sentiment.

Here's more from OCBC:

Although the STI managed to put on more gains last Friday to close above the important 2919 support, overall volume was flat at just under 1.3b units traded; average value/unit also slipped sharply to S$0.68 from S$1.00 the previous session.

As such, we can expect to see some healthy profit-taking emerging soon (especially if the index fails to hold above 2919); and again put the key 2900 support to the test.

On the upside, we peg the next hurdle at 2950, ahead of the key 3000 psychological barrier.

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Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.
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Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.
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Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley