Daily Markets Briefing: STI up 0.1%

A pullback is expected today.

According to OCBC, following the muted showing on Wall Street overnight, the local bourse could continue to see profit-taking as investors lighten their positions ahead of the weekend.

Here's more from OCBC:

In any case, the STI looks to have run out of steam after the strong rebound from 3149 to 3360 over the last few weeks.

Both the daily MACD and stochastic indicators have turned bearish – more importantly, after the index peaked at 3360.

For now, the index could see a pullback towards 3279 (38.2% retracement of the recent rally), especially if the immediate 3296 support (30-DMA, 100-DMA) gives way.

On the upside, we peg the immediate cap at 3335 (recent peak), ahead of 3360.

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