Daily Markets Briefing: STI down 0.3%

Brace for more losses today.

According to OCBC, the poor showing on Wall Street overnight is likely to weigh further on the local bourse today, and extend the STI’s 0.3% pullback.

Here’s more from OCBC:

We peg the immediate support around 2800, ahead of 2785; on the upside, we peg the initial hurdle at 2885, ahead of 2900.

Overall volume jumped 21% with 1.4b units traded, and total value increased by 13% to S$0.8b; while average value/unit fell 6% to S$0.59.

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