Daily Markets Briefing: STI down 0.28%

Expect more losses today.

According to OCBC, continued weakness on Wall Street overnight is likely to weigh further on the local bourse today, even as the STI extends its losing streak for the fourth session yesterday.

Here’s more from OCBC:

We peg the key hurdle at 2855, ahead of 2870; on the downside, we peg the immediate support at 2815, a break of this level could send the STI index easing towards 2800.

Overall volume shrank 12.9% with 1.2b units traded, and the total value jumped 34.5% to S$934.1m; while average value/unit climbed 54% to S$0.79.

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