Daily Markets Briefing: STI down 0.59%

Expect some profit-taking today.

According to OCBC, the buying spree on Wall Street after a strong jobs report and decent gains across the bourses could provide some support to the local bourse today.

Here’s more from OCBC:

Overall market volume fell 0.4% with 2.1b units traded, while total value declined 24% to S$0.9b; and average value/unit was 26% lower at S$0.43.

As before, we peg the initial support at 2840; on the upside, we still see the initial hurdle at 2885, ahead of the 2900 psychological barrier.

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