Yes that is correct.

A transit is any "stop" less than 24 hours so you will be able to arrive in the evening and depart the next morning and have it still considered a transit. On my OWE last year I flew into SIN in the evening and flew out the next morning. No trouble at all.

There is the caveat that a "stop" maybe considered a transit even though it is longer than 24 hours if it is the next available flight to your destination. However I'm not sure of the specifics of that; I'm sure there are others on this forum who would be much better qualified to discuss it and it doesn't apply in your case anyway.

Regards