Daily Markets Briefing: STI down 0.1%

Today's tone to remain a tad more downside biased.

OCBC Investment Research said:

With key US stocks still pulling back overnight; this could keep the local bourse on the back-foot this morning.

Despite a 0.1% retreat yesterday, the STI is still holding firm above the 3200 immediate support; however this level could potentially be tested again later as today’s tone is likely to remain a tad more downside biased.

Should this support be compromised, the index will likely fall towards the 3180 subsequent support.

On the upside, 3270 region is still the firm immediate hurdle to overcome, as the subsequent resistance lies at the 3330 support-turned-resistance.

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