Daily Markets Briefing: STI down 0.54%
Expect muted gains today.
According to OCBC, despite the recovery on Wall Street overnight, the local bourse sentiment could reamin cautious today.
Given the lack of strong catalyst, the STI is likely to remain largely range-bound for now, according to OCBC.
Here's more from OCBC:
We continue to peg the immediate support around 2800, ahead of 2785; on the upside, we peg the initial hurdle at 2885, ahead of 2900.
Overall volume shrank 15% with 1.2b units traded, and total value decreased by 10% to S$0.8b; while average value/unit added 7% to S$0.63.