Daily Markets Briefing: STI down 1.91%

Expect more losses today.

According to OCBC, the pullback on Wall Street overnight could weigh on the local bourse today, extending the STI’s losing streak.

Here’s more from OCBC:

We expect the STI to hold around 2800 to 2875 in the near term, failing which the index may ease further towards the next major support of 2740.

Overall volume jumped 19.3% with 2.0b units traded, and the total value climbed by 75.9% to S$1.4b; with average value/unit gained 47.5% to S$0.71.

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