STI set for flat or even negative open

The index is having trouble overcoming the 3067 near-term resistance.

OCBC Investment Research said:

The correction on Wall Street overnight is likely to spook the local bourse to a negative opening this morning.

Despite registering a 0.5% gain yesterday, the STI still seems to be having problems overcoming the 3067 near-term resistance for now.

And with today’s tone likely to turn more pessimistic, we could see the index reversing south again in the direction of the 3022 immediate support (recent trough).

Below that, the next base lies at the 3000 psychological support. On the upside, the immediate obstacle is still pegged at the 3067 recent peak, with the subsequent resistance marked at the 3100 psychological obstacle.

IG Markets Singapore meanwhile noted:

Focus today will continue on Europe and the second day of the summit in Brussels, though general expectations remain for little to change following its conclusion.

This morning we are pricing a flat open for Singapore.

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