Daily Markets Briefing: STI down 0.43%

Don't expect gains today.

The Straits Times Index (STI) ended 15.46 points or 0.43% lower to 3540.39, taking the year-to-date performance to +4.04%.

The top active stocks were DBS, which declined 1.92%, UOB, which declined 0.28%, Singtel, which declined 1.17%, Genting Sing, which declined 1.65% and OCBC Bank, with a 1.04% fall.

The FTSE ST Mid Cap Index gained 0.07%, whilst the FTSE ST Small Cap Index rose 0.27%.

OCBC Investment Research noted that US stock-market indexes closed sharply lower Tuesday after Federal Reserve Chairman Jerome Powell highlighted the strengthening economy during his congressional testimony, but investors grew jittery that that improvement may prompt the central bank to be more aggressive in tightening monetary policy.

All 11 S&P 500 industries ended lower, led by Real Estate (-2.15%) and Consumer Discretionary (-2.12%).

"The weakness on Wall Street overnight could spark a similar correction in the local bourse today," 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