STI set for poorer open

Sentiments are forecast to even deteriorate.

OCBC Investment Research said:

The more than 1% pullback on Wall Street last Friday night and the weak Nikkei start (down 0.4% now) are likely to cue the local bourse to a poorer opening this morning.

As a recap, the STI managed just a 0.5% higher close in the last session despite recovering as much as 0.8% intraday.

And with sentiments likely to deteriorate today, we could see the index inching lower towards the 3020 support again. Below that, the next support lies at the 3000 psychological base.

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:

Today the futures market points to a weaker open for the STI this morning. Friday night saw Singapore Airlines reveal a 54% drop in net profits as the mixed bag of corporate earnings continues.

But this big fall only tells half the story. Singapore Airlines has been planning for a slowdown in its main long-haul service and shifting attention to its low-cost and budget shorter-haul carriers as passengers tighten their belts.

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