Daily Markets Briefing: STI up 0.14%

Expect more gains today.

According to OCBC, the rally on Wall Street overnight should provide a boost to local sentiment this morning; the Nikkei is up 0.9% in early trade.

Here's more from OCBC:

With the STI managing to sustain itself above the initial 2650 successfully for the second session, the index could be poised to rise further to test the key 2700 hurdle in the coming sessions.

However, a failure to convincingly breach this level could bring about selling into strength again and send the index back towards 2600.

Do note that the index also appears to be rounding a top around here, hence the bears may still be having an upper hand at the moment.

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