Daily Markets Briefing: STI down 0.16%

Despite Wall Street’s gains, local bourse is likely to remain cautious.

The Straits Times Index (STI) ended 5.26 points or 0.16% lower to 3230.49 on Wednesday, taking the year-to-date performance to +12.14%.

The top active stocks today were Singtel, which declined 0.79%, DBS, which declined 0.29%, UOB, which gained 0.65%, OCBC Bank, which declined 0.19% and CapitaLand Mall Trust, with a 1.02% fall.

OCBC Investment Research said this came with the U.S. stocks closed slightly higher as the financial sector helped to cap a sharp drop in energy shares, ahead of potentially market moving events on Thursday, including the U.K. election and former FBI director James Comey Senate testimony.

Meanwhile, eight out of eleven S&P 500 industries ended higher, led by Financials (0.82%) and Real Estate (0.47%) while Energy (-1.48%) and Industrials (-0.14%) led the declines.

Here’s more from OCBC Investment Research:

Despite the mild recovery on Wall Street overnight, the overall tone is likely to remain cautious today, limiting any upside.

As before, the immediate resistance lies at 3250. Above it, we maintain the next hurdle at 3300. On the downside, we keep the immediate support at 3200, ahead of 3170.

Overall volume jumped 19.1% with 1.9b units traded, and total value climbed 14.7% to S$1.0b, while average value/unit fell 3.7% to S$0.53.

If you've been wondering whether SBR could work for your company — yes, probably.

A lot of the companies we partner with started as readers. They'd been following our coverage for a while, saw their own customers and competitors in it, and eventually asked the obvious question: could we do something with you? The answer is usually yes. The shape of it depends on what you're trying to do.

The options 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. Some partners use one channel; most use a mix. We figure out the right combination by starting with your brief, not with our rate card.

So if the question has been on your mind, here's the easy way to ask it.

We'll tell you honestly whether we can help, and how. 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