STI continues trading in 'muted session'

The index is forecast to just hold up above the 3040 resistance-turned-support.

OCBC Investment Research said:

With US stocks turning in another mixed session overnight and the Nikkei 225 index starting just mildly higher (up 0.1% now), these are unlikely to provide much inspiration to the local bourse this morning.

As a recap, the STI continued to trade in a muted session yesterday on thin trading volume; after opening some 0.1% lower, the index slowly drifted to a 0.2% lower close.

And with today's tone unlikely to show much improvement, we could see the index just holding up above the 3040 resistance-turned-support.

Below that, the next base lies at the 2980 troughs. On the upside, the immediate hurdle is still pegged at the 3090 resistance (recent peaks), while the subsequent obstacle is marked at the 3140-3172 gap resistance.

IG Markets Singapore meanwhile noted:

In Singapore, the battle for APB takes another twist as ThaiBev reveals it has upped its stake in APB joint owner Fraser & Neave to 29%. This is just shy of the 30% mark which would trigger a formal bid for F&N.

Heineken must be worried what ThaiBev will do now to take control of F&N and derail its bid to take over its crown jewel APB. But the Dutch brewing giant is unlikely to raise its $53 a share offer any higher.

The futures market is hinting at a slightly firmer opening for the STI this morning after its flat finish last night.

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