Daily Markets Briefing: STI down 0.03%

Expect muted gains today.

According to OCBC, the STI ended nearly flat (-0.03%) at 2983.91 yesterday, as the narrow escape from a technical recession in 3Q was insufficient to buffer the risk aversion seeping through Asian bourses.

Given that overnight cues from Wall Street and morning performances by Nikkei and Kospi are mixed, expect the STI to range trade between 2960-3020, OCBC said.

Here's more from OCBC:

The longer-dated SGS bonds may lead the rally today, taking the direction from UST bond market action overnight.

The 3-month SOR and SIBOR fixings yesterday were at 1.08248% (+0.08557%) and 1.12928% (+0.00195%) respectively.

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