STI turns more bearish

Meanwhile all eyes will be on Fraser & Neave, says IG Markets Singapore.

OCBC Investment Research said:

Renewed weakness on Wall Street and the lower Nikkei start (down 0.4% but off early lows) could continue to weigh on the local bourse.

The STI has turned decidedly more bearish, having triggered a parabolic sell signal yesterday; the 30-DMA has also cut down on the 50-DMA; daily MACD continues to trend lower.

As before, the index could retreat back to 2953 (38.2% retracement of 2698-3110 rally) although the 3000 level could provide a minor support.

However, we can’t rule out a technical rebound, given the recent sharp losses; but investors should consider selling into strength. Initial cap likely at 3067 (centre of Bollinger band), ahead of 3100 psychological hurdle.

IG Markets Singapore, on the other hand, noted:

For Singapore today all eyes will be on Fraser & Neave as the board is set announce their recommendation on the TCC bid. As we covered last night, given the last-minute interest from other parties it is likely to suggest the current $8.88 offer significantly undervalues the company.

We are currently pricing the STI to open around 0.5% lower when trading gets underway shortly.

The people you want to reach are already in this room.

Every quarter, SBR lands on the desks of the founders, CFOs, and directors running Asia's most consequential companies. Every day, they open our newsletter and read our website. It's a room that took twenty years to build — and it's the one most of our partners are trying to get into.

The good news is that the door is open. We work with companies on thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. The shape of the right partnership depends on what you're trying to do, which is why we'd rather start with a conversation than send a rate card.

If you have something this room should know about, tell us. We'll tell you honestly whether we can help, and how.

No rate cards until we understand the brief. It's a better use of everyone's time.

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