STI closes 0.3% lower

Significant improvements are said to be unlikely.

OCBC Investment Research said:

The muted reactions on Wall Street overnight and the poor Nikkei start (down 0.4% now) could continue to weigh on local sentiments this morning.

As a recap, the STI continued to display signs of weaknesses with a 0.3% lower close yesterday.

And with today’s tone unlikely to see any significant improvements, we could see the index drifting towards the 3020 base, ahead of the next support at the 3000 psychological level.

On the upside, the immediate obstacle is still pegged at the 3065 support-turned-resistance, with the subsequent obstacle pegged at the 3100 psychological resistance.

IG Markets Singapore meanwhile noted:

Singapore wakes up to more downbeat economic data, this time PMI manufacturing data which shows a fourth monthly decline in a row.

Factory output fell 0.4 points to 48.3 as the global slowdown takes another bite out of the local economy.

Today the futures market points to a firmer open for the STI this morning.

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