Daily Markets Briefing: STI up 0.36%

Expect local sentiment to be fairly buoyant this morning.

According to SGX, the Straits Times Index (STI) ended 10.29 points or 0.36% higher to 2860.23, taking the year-to-date performance to -0.78%.

Meanwhile, OCBC notes that with today’s tone likely to be bullish, we could see the index maintaining its climb in the direction of the 2865 key resistance.

"Above 2865, we peg the next resistance level at 2880; on the downside, we peg the immediate support at 2825, ahead of 2800. Overall volume jumped 10.4% with 1.7b units traded, and the total value rose 28.4% to S$0.9b; while average value/unit climbed by 16.3% to S$0.50."

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