Daily Markets Briefing: STI down 0.32%

Brace for a pullback today.

According to OCBC, the mixed showing on Wall Street overnight could keep local sentiment fairly cautious and see the index drifting sideways today.

Here’s more from OCBC:

We peg the immediate support at 2800, ahead of its next support level at 2740; on the upside, we continue to peg the initial hurdle at 2875, ahead of 2900.

Overall volume shrank 4.4% with 1.95b units traded, and the total value tumbled 23.8% to S$1.1b; with average value/unit shedding 20.3% to S$0.56.

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