Daily Markets Briefing: STI down 2%

Don’t expect any gains today.

The Straits Times Index (STI) ended 69.98 points or 2% lower to 3421.39, taking the year-to-date performance to +0.54%.

The top active stocks today were Singtel, which declined 1.74%, DBS, which declined 2.56%, OCBC Bank, which declined 2.94%, UOB, which declined 2.70% and Venture, with a 3.56% fall.

The FTSE ST Mid Cap Index declined 1.27%, whilst the FTSE ST Small Cap Index declined 1.43%.

OCBC Investment Research noted that US stocks retreated for a second day, whilst the dollar rallied as investors assessed data on jobs and service industries for clues to the timing of interest-rate increases.

Nine industries of the S&P 500 closed down, with Telecommunication Services (-1.12%) leading the laggards whilst Health Care (0.40%) gained.

“The continued correction on Wall Street overnight is likely to weigh further on local sentiments this morning,” 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