Daily Markets Briefing: STI down 1.1%

Wall Street's weakness could hurt gains today.

The Straits Times Index (STI) ended 35.81 or 1.1% lower at 3,231.59.

The FTSE ST Mid Cap Index fell 6.01% whilst the FTSE Small Cap Index dipped 1.35%.

The top active stocks were DBS, which fell 0.19%, Singtel, which dipped 0.01%, OCBC, which decreased 0.10%, UOB, which slipped 0.24%, and YZJ, with a 0.01% fall.

According to OCBC Investment Research, the S&P 500 and the Nasdaq booked their worst sessions in about three months as a powerful climb in government bond yields rippled through Wall Street, forcing a broad reassessment of assets perceived as risky, like stocks.

Nine out of eleven S&P 500 industries ended lower, with Information Technology (-1.79%) and Consumer Discretionary (-1.72%) leading the declines whilst Financials (0.71%) and Utilities (0.55%) gained.

"The weakness on Wall Street overnight amid the surge in bond yield could dampen local sentiment today," OCBC Investment Research 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