Daily Markets Briefing: STI down 0.28%

Analyst positive on today's tone.

Singapore Exchange noted:

The FTSE Straits Times Index (STI) ended -8.81 points lower or -0.28% lower to 3,124.45, taking the year-to-date performance to -1.35%.

The FTSE ST Mid Cap Index declined -0.95% while the FTSE ST Small Cap Index declined -0.36%.

The top active stocks were Wilmar (+0.31%), Capitaland (-2.24%), Fortune Reit HK$ (+3.21%), Singtel (+0.28%), and DBS (-0.96%).

OCBC Investment Research said:

The modest gains by the US indices last Friday night and the positive Nikkei start (up 0.9% now) could provide some mild inspiration to the local bourse this morning.

Despite plunging below the 3100 key support intraday on Friday, the STI managed to regain most of its earlier losses and close back above this vital level.

With today’s tone likely to turn a tad more optimistic, the index could inch higher in the direction of the 3230 key resistance; however, the risk of investors selling into strength again as the index recovers still remains.

Beyond the 3230 level, the next obstacle is pegged at the 3320 resistance. On the downside, 3100 is still the immediate support, followed by the next base at the 3000 psychological level.

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