Daily Markets Briefing: STI up 0.24%

Expect more gains today.

According to OCBC, although the STI extended its recovery with a 0.2% higher close yesterday, we are more likely to see profit-taking kick in today, given the muted Wall Street close overnight as well as the start of the school holidays from next Monday.

Here's more from OCBC:

In addition, the index’s recent price action may have triggered a potential bearish reversal signal; this could send the STI back towards the key 100-DMA support (currently hovering around 2749).

As before, a convincing break of this support is likely to send the index back towards the next key support at 2700; on the other hand, 2800 remains the key hurdle.

Meanwhile, we are already seeing a dip in overall market volume (down 16% at 1.6b units); but average value/unit rose 18% to S$0.52, and we could see it rising up further if the profit-taking spreads to the blue chips, especially after the recent rebound.

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