Daily Markets Briefing: STI up 1.5%

Brace for sharp losses today.

According to OCBC, the reversal on Wall Street overnight could also see similar profit-taking in the local bourse today, especially after the STI’s 1.5% gain, which could not quite sustain above the key 2900 level.

Here's more from OCBC:

As before, we see yesterday’s rebound as just a technical rebound and also a means for investors to unwind stale longs – we note that many counters have ended off their intraday high as well.

Hence, if the STI fails to retake 2900, we could see the index slipping back towards 2860 or even 2800 (also expecting the Chinese markets to weigh on sentiment).

And if 2800 gives way, it could lead to a return to around 2698 (early Jun 2012 low).

On the upside, we again peg the initial key hurdle at 2900, ahead of 2950.

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