Daily Markets Briefing: STI down 0.10%

How will Singapore stocks fare today?

According to OCBC, further weakness on Wall Street overnight could continue to weigh on local sentiment, potentially extending the STI’s 0.10% losses yesterday. "As before, we peg the immediate support around 2820, ahead of 2800; on the upside, we peg the initial hurdle at 2855, ahead of 2900," OCBC said.

Overall volume surged 44% with 1.7b units traded, but total value shrank 6% to S$0.7b while average value/unit fell 35% to S$0.40, as penny stocks led the sell-off.

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