STI closes 0.2% lower

The index is forecast to attempt another test at the 3040 immediate resistance, says OCBC Investment Research.

OCBC Investment Research said:

The strong recovery on Wall Street last Friday night and the positive Nikkei start (up 1.1% now) are likely provide inspiration to the local bourse this morning.

As a recap, the STI bucked the trend with a 0.2% lower close in the last session despite having a very optimistic start (opened nearly 0.8% higher).

But with today's tone likely to improve significantly, we could see the index attempting another test at the 3040 immediate resistance (key peak) again.

Beyond that, the subsequent obstacle lies at the 3060 support-turned-resistance. On the downside, 2975 (minor trough) is still the immediate support, followed by the next base at the 2930 minor trough.

IG Markets Singapore meanwhile noted:

This week might be the latest crunch time for the eurozone crisis, but there seem to have been many of these in the last two years. So far this morning we are seeing markets around 1% higher and it looks likely Singapore will open in line with that.

The early part of this week we are likely to see nervous positioning as the market waits to see if the central bankers can finally deliver a meaningful blow to this credit saga.

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia