Daily Markets Briefing: STI down 0.1%

But expect a rebound today.

Accordign to OCBC, the rebound on Wall Street overnight could have a positive impact on the local bourse this morning.

Here's more from OCBC:

Despite another 0.1% retreat yesterday, the STI have started to show some promising signs of halting its decline; the closing level was significantly higher than its intraday low.

And with today’s tone likely to show some improvements, we could potentially see the index consolidate around current levels with a slight upside bias.

For now, we still see the immediate key support at around the 3000 psychological level and on the upside, we still peg the immediate resistance at the 3390 support-turned-resistance.

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