Daily Markets Briefing: STI up 0.3%

Expect muted trading today.

According to OCBC, with the US market closed overnight for a public holiday, the local bourse is likely to kick off the day on a fairly muted tone.

Here's more from OCBC:

As a recap, the STI recovered another 0.3% yesterday on the back of very low trading turnover; most investors are clearly still standing by the sidelines due to a lack of market catalysts.

We could continue to see similar trading sentiments today as the index looks to consolidate further between the 3430 and 3470 trading range.

Above 3470, the next hurdle lies at the 3500 psychological level and on the downside, 3390 is the subsequent resistance-turned-support.

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