Daily Markets Briefing: STI up 0.07%

But trading will remain muted.

According to OCBC, the continued recovery on Wall Street yesterday could bode well for the local market this morning.

Here’s more from OCBC:
US equities rallied Wednesday, gaining the most in four weeks, after the Federal Reserve chief signaled no hurry to raise rates.

As such, the STI could attempt to retake the 3280 support-turned-resistance today.

But average trading value is still quite muted; this suggests that most traders are still taking a break from the market at the moment.

We still see the immediate support level at the 3250 (near the 4-month uptrend support), followed by the next base at the 3220 key trough. Above the 3280 hurdle, we peg the next hurdle at the 3310 recent peak.

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