Daily Markets Briefing: STI up 1.31%

Expect some profit-taking today.

According to OCBC, the rebound on Wall Street overnight could continue to provide some support to the local bourse today, potentially extending yesterday’s recovery.

Here’s more from OCBC:

We expect the STI to hold within 2765 and 2800 in the near term. Above 2800, we continue to peg the key hurdle at 2820.

Overall volume increased by 10.6%, with 1.7b units traded, but total value fell 6.9% to S$1.1b, while the average value/unit shed 15.8% to S$0.64.

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