Daily Markets Briefing: STI up 0.68%

Expect some boost today.

The Straits Times Index (STI) ended 20.69 points or 0.68% higher to 3067.49 on Wednesday, taking the year-to-date performance to +6.41%.

The top active stocks today were DBS, which declined 0.47%, Singtel, which gained 1.03%, Global Logistic, which declined 0.77%, UOB, which gained 0.29% and OCBC Bank, with a 0.96% advance.

OCBC said this came as U.S. stocks closed up modestly Wednesday after the Federal Reserve stood pat on interest rates and offered a positive view of the economy, while shares of Apple rallied a day after the iPhone maker reported strong earnings.

Meanwhile, four out of eleven S&P 500 industries ended higher, led by Information Technology (0.75%) and Health Care (0.71%) while Utilities (-1.73%) led the losses.

"The rebound on Wall Street overnight could provide a modest boost to the local bourse today," OCBC said.

Here's more from OCBC:

The STI managed to take out its 3065 initial hurdle yesterday, but the ability of the index to convincingly sustain itself above this level remains crucial. Failure which could see the index slipping towards 3025.

We peg the initial hurdle at 3100, ahead of 3140; on the downside, we peg the immediate support at 3025 ahead of 3000.

Overall volume rose 46.9% with 1.9b units traded, and total value climbed 15.0% to S$1.2b, while average value/unit fell 21.7% to S$0.63.

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