Daily Markets Briefing: STI closed flat

Brace for a pullback today.

According to OCBC, with the US indices plunging more than 1% overnight, this will likely spook the local bourse to a similar retreat as well this morning.

Here's more from OCBC:

Following a flat closing yesterday on very low trading turnover; we could see local investors heading back today to take some risk off the table.

This will likely send the STI back in the direction of the 3430 immediate support for a test.

On the upside, we still see 3470 as the immediate hurdle to overcome.

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