Daily Markets Briefing: STI down 0.44%

Brace for a pullback today.

According to OCBC, the pullback on Wall Street overnight could see the STI extending its correction; this after the index gave up early gains to end 0.5% lower yesterday.

But this did not come as a surprise, given that the local bourse looked toppish technically; and in our report yesterday, we noted that selling into strength could be a key theme this week, OCBC said.

Here's more from OCBC:

We also think overall tone could remain cautious ahead of the key earnings results, both in the US and here.

Overall volume was little changed at 1.43b units traded, likewise for total value and also the average value/unit of S$0.68.

For now, we could see the index pulling back further to test the key 2900 resistance-turned-support; and if it holds, we should see the current uptrend continuing.

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