STI set for further recovery

The corporate earnings season is in full swing.

OCBC Investment Research said:

With the US market still closed overnight, the rebound by the European markets yesterday and the positive Nikkei start (up 0.7% now) could provide some inspiration to the local bourse this morning.

After a relatively strong rebound from its intraday low to close more than 0.3% higher in the last session, the STI is likely to see a further recovery in the direction of the immediate obstacle at the 3065 support-turned-resistance today.

Should this resistance be taken out, the subsequent resistance lies at the 3100 psychological obstacle.

On the downside, the immediate support is still pegged at the 3020 minor trough, with the subsequent base marked at the 3000 psychological support.

IG Markets Singapore meanwhile noted:

In Singapore, the corporate earnings season is in full swing and is so far proving a mixed bag. CapitaLand delighted shareholders yesterday with an 85% rise in net income while SingPost saw profits rise 7.3%. At the other end of the spectrum CDL Hospitality Trust, Tiger Airways and SIA Engineering have all posted downbeat results.

For the local stock market today, the futures market points to a slightly firmer open.

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