Daily Markets Briefing: STI down 1.76%

Brace for a pullback today.

According to OCBC, the rebound on Wall Street overnight should provide some reprieve to the oversold local market this morning, especially after the STI’s near-2% tumble yesterday; the Nikkei has rebounded about 1.8% in early trade.

Here’s more from OCBC:

However, with the daily MACD still looking pretty negative, we think that the market is more than likely to use the technical rebound to unwind stale longs or sell into strength; we think the trigger to sell will come if the STI fails to make any significant headway against the key 2700 hurdle.

For now, we continue to peg the initial support at 2643; though tested yesterday, it managed to hold. But we suspect more convincing bargain hunting interest is only likely to emerge closer to 2600.

Above 2700, the next hurdle lies at 2740.

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