Daily Markets Briefing: STI down 0.7%

But expect a rebound today.

According to OCBC, despite the retreat on Wall Street last Friday night, the Chinese rate cut is likely to mitigate any negative local sentiments this morning.

Here's more from OCBC:

As such, we could potentially see the index initiating a technically rebound in the direction of the 3460 immediate key peak.

Meanwhile, the immediate key resistance is still pegged at the 3460 key peaks. Beyond 3460, the next hurdle lies at the 3500 psychological level. On the downside, we still see the next base at the 3300 psychological level.

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