Daily Markets Briefing: STI up 1.7%

Expect more gains today.

According to OCBC, further strength on Wall Street overnight could continue to keep local sentiment positive, but further sharp gains may be limited after the STI’s 1.7% rebound yesterday.

Here's more from OCBC:

We expect the STI to hold within 2800 and 2850 in the near term. Above 2850, we peg the key hurdle at 2880.

Overall volume increased by 35.5%, with 2.3b units traded, and total value jumped 75.0% to S$1.9b, while the average value/unit rose by 28.7% to S$0.82

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