The Straits Times Index closed up 16 points week-on-week at 2,545 on Aug 7, but not before touching a low of 2,484 on Aug 3. Since then the STI has rebounded, but remaining under the still declining 100-day moving average at 2,574 and the 50-day moving average at 2,625. These are likely to act as resistance levels for any further attempt at a rebound.

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