Daily Markets Briefing: STI up 0.48%

Expect some profit-taking today.

The STI ended 13.56 points or 0.48% higher to 2830.63, taking the year-to-date performance to -1.81%.

According to OCBC Investment Research, this came after US stocks closed higher on Tuesday as investors welcomed stronger-than-expected quarterly results from a roster of companies, including Goldman Sachs Group Inc., UnitedHealth Group Inc. and Netflix Inc.

More so, all S&P 500 industries ended higher, led by Health Care (1.07%) and Materials (0.94%).

This upturn could extend STI's 3-days winning streak, OCBC said.

"The gains on Wall Street overnight could bring some cheer to the local bourse today," the brokerage firm noted.

Here's more from OCBC:

Gold for Dec delivery gained US$6.30, or 0.50%, to close at US$1262.90/ounce while Dec Silver added 16 cents, or 0.94%, to settle at US$17.64/ounce.

We peg the initial hurdle at 2880, followed by the 2900 subsequent resistance level; on the downside, we peg the immediate support at 2795, ahead of 2725.

Overall volume dipped 28.7% with 2.1b units traded, and the total value dropped 9.3% to S$0.9b; while average value/unit rose 27.2% to S$0.43.

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