Daily Markets Briefing: STI up 0.6%

A pullback is likely today.

According to OCBC, following the STI’s 0.6% gains yesterday, the index has closed higher for the fifth session; but recent price action suggests that the market may be due for a technical correction soon.

Here's more from OCBC:

We note that the daily RSI is now just a shade below the overbought region, although the daily MACD continues to look pretty positive.

As such, we could start to see some healthy profit-taking should the index fail to clear the immediate 2885 hurdle, or fail to sustain itself above the immediate 2843 support.

While overall volume surged nearly 50% to 2.06b units, total value only grew 18% to S$987.7m, as average value/unit slipped 21% to S$0.48; this as interest continues to be driven by penny plays, even as gainers led losers 2.1 to 1.

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