Daily Markets Briefing: STI ends flat

Next hurdle pegged at the 3370 mark.

Singapore Exchange noted:

The Straits Times Index (STI) ended +0.76 points higher or +0.02% higher to 3,236.82, taking the year-to-date performance to +2.20%.

The FTSE ST Mid Cap Index declined -0.01% while the FTSE ST Small Cap Index declined -0.01%.

The top active stocks were Mirach Energy (+7.79%), SingTel (-0.78%), DBS (+0.67%), Wilmar (+0.96%) and GoldenAgr (-3.54%).

Meanwhile, OCBC Investment Research said:

The local bourse could take a positive cue from the fact that both the Dow and S&P500 maintained new heights overnight with a positive Nikkei start (up 0.8% now) this morning.

As a recap, the STI took another breather yesterday with a flat close after it conquered the 3230 key level two sessions back.

Should the index initiate a rebound around current levels, it will likely head towards the 3320 key support-turned-resistance next.

Beyond that, the next hurdle is pegged at the 3370 support-turned-resistance. Below the 3230 immediate base, the subsequent support lies at the 3170 resistance-turned-support.

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