Daily Markets Briefing: STI down 0.02%

Expect some profit-taking today.

According to OCBC, the rally on Wall Street overnight could provide some support to the local bourse this morning.

Here’s more from OCBC:

We continue to peg the immediate support around 2800, ahead of the key 2780 psychological level; on the upside, we peg the initial hurdle at 2850, ahead of 2900.

Overall volume added 3.7% with 1.7b units traded, and total value was up 12.3% to S$1.2b; while average value/unit shed 19% to S$0.70.

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