Daily Markets Briefing: STI down 0.32%

Don't expect gains today.

The Straits Times Index (STI) ended 9.82 or 0.32% lower at 3,068.15.

The top active stocks were DBS, which fell 0.22%, Singtel, which dipped 0.05%, Genting Sing, which slipped 0.01%, UOB, which slid 0.17%, and OCBC, with a 0.09% fall.

The FTSE Mid Cap slipped 1.64% whilst the FTSE Small Cap dipped 0.87%.

OCBC Investment Research (OIR) said that stocks closed sharply lower, with the Dow Jones Industrial Average tumbling 600 points as crude oil prices extended their retreat while a firmer US dollar also sparked worries about the competitiveness of US corporations in an increasingly challenging economic environment.

Ten out of eleven S&P 500 industries ended lower, with Information Technology (-3.54%) and Consumer Discretionary (-2.31%) leading the declines while Real Estate (0.20%) was the sole gainer.

"The continued correction on Wall Street overnight is likely to weigh further on local sentiment today, potentially extending the STI’s decline in the direction of the 3040 immediate support," OIR commented.

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