STI loses 1%

Sentiments are likely to remain gloomy following the continued retreat on Wall Street.

OCBC Investment Research said:

The continued retreat on Wall Street overnight and the poor Nikkei start (down 1.1% now) are likely to dent local sentiments further this morning.

Following US stock’s plunge on Wednesday night, the STI reacted similarly yesterday with a 1% loss by the close.

And with today’s tone likely to remain downside biased; we could see the index slipping further towards the 3000 psychological support.

Below that, the subsequent vital base lies at the 2980 key troughs. On the upside, 3020 is now the newly established support-turned-resistance, with the next obstacle marked at the 3065 support-turned-resistance.

IG Markets Singapore meanwhile noted:

In Singapore, it came as no surprise to see Thai tycoon Charoen extend the deadline for F&N to consider his bid. The new deadline is now November 22, one week after the deadline announced by OUE earlier this week.

So if you are a weary and confused F&N shareholder at least you know at the end of the month there will be an end to the saga of who is actually bidding for the conglomerate and at what price.

And commodity giants seem to be turning the corner. Wilmar saw profits rise 26% in Q3 while Noble posted a profit of US$75 million after both had previously scared investors with revenue falls.

Looking at the futures market today, the STI faces a weaker open which could see it test the psychological 3000 barrier it has worked so hard to build off.

You're the reader we write for. You're also the person our partners want to reach.

If that sentence describes you — a founder, a C-suite, someone whose attention companies pay good money for — then you already understand why SBR works. We've spent twenty years earning the trust of readers exactly like you. Which is exactly what makes this an interesting place for your company to show up, too.

The ways it can show up are broader than most people assume — thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. The right fit depends on what you're trying to do, which is why we'd rather start with a conversation than send a rate card.

If your company has something this audience should know about, we'd like to hear what you're working on.

No rate cards until we understand the brief. It's a better use of everyone's time.

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