Daily Markets Briefing: STI down 0.06%

Don't expect gains today as investors weigh the implications of Fed announcements.

The Straits Times Index (STI) ended 2.18 points or 0.06% lower to 3511.13, taking the year-to-date performance to +3.18%.

The top active stocks were DBS, which gained 0.28%, UOB, which gained 0.99%, Singtel, which declined 0.29%, OCBC Bank, which gained 0.37% and Venture, with a 1.05% advance.

The FTSE ST Mid Cap Index declined 0.02%, whilst the FTSE ST Small Cap Index rose 0.19%.

OCBC Investment Research noted that US stock-market indexes ended a turbulent session slightly lower on Wednesday after the Federal Reserve delivered its sixth interest-rate increase since the end of 2015 and signalled that it still expects to deliver two more before the end of the year.

Eight out of 11 S&P 500 industries ended lower. The best performers were Energy (1.90%) and Materials (1.57%) whilst worst performers were Information Technology (-0.91%) and Health Care (-0.89%).

"The retreat on Wall Street overnight could keep local sentiment cautious today as investors weigh the implications of the Federal Reserve’s policy decision," OCBC said.

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