Daily Markets Briefing: STI up 0.05%

Expect muted gains today.

According to OCBC, the pullback on Wall Street overnight and further losses in the US index futures weigh on local sentiment this morning; the Nikkei is down 0.3% in early trade.

As before, the STI seems to be floundering just below the formidable near-term top around 2900; overall volume has also fallen by nearly 35% yesterday, even as the index eked out a meager 0.1% gain, OCBC said.

Here’s more from OCBC:

And with the daily MACD starting to converge for a potential negative crossover, the continued failure to convincingly sustain above this level is likely to see the index slipping back towards the 2800 support.

While investors will be keenly following the unveiling of the 2016 Budget later (from 3pm onwards), the upcoming long weekend could put a lid on the market.

Above 2900, we peg the next key hurdle at 2918 (38.2% retracement of plunge from 3549 to 2528).

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