STI set for softer open

The STI could open softer looking at the futures market overnight, says IG Markets Singapore.

OCBC Investment Research said:

The retreat on Wall Street overnight and the poor Nikkei start (down 1% now) are likely to dampen local sentiments this morning.

Despite the strong intraday rebound yesterday from a whopping 1.6% loss at the open to a 0.1% gain by the close, the STI is still a tad away from conquering the vital 3040 key resistance.

And with today's tone likely to remain more pessimistic, we could see the index turning back south again and head towards the 2980 immediate base (minor troughs).

Below that, the next support lies at the 2930 level (another minor trough). On the upside, the subsequent obstacle is marked at the 3060 support-turned-resistance.

IG Markets Singapore meanwhile noted:

In Singapore today the STI could open softer looking at the futures market overnight.

With the extended deadline looming for Heineken’s bid for APB, we are expecting more jockeying for position among the interested parties. ThaiBev looks to have improved its position as it gradually builds up its stake in Fraser & Neave, which it now owns 24%.

But time is running for Japanese brewer Kirin which has so far failed to react to a prized Asian asset slipping from its control.

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