Daily Markets Briefing: STI down 0.73%

Expect some profit-taking today.

According to OCBC, the recovery on Wall Street overnight could bring a sense of relief to the local bourse today, especially after the STI’s 0.73% fall last week.

Here's more from OCBC:

We continue to peg the immediate support at 2800, ahead of 2860; on the upside, we peg the initial hurdle at 2900, ahead of 2935.

Overall volume tumbled 8.15% with 1.7b units traded, and the total value shrank 18.7% to S$0.8b; while average value/unit decreased by 11.5% to S$0.48.

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