Daily Markets Briefing: STI down 1.08%

Expect limited gains in the near term.

The Straits Times Index (STI) ended 30.36 points or 1.08% lower to 2789.88 on Wednesday, taking the year-to-date performance to -3.22%.

According to OCBC Investment Research, this came as U.S. stocks rallied Wednesday, with the Dow industrials jumping 257 points, led by a surge in financial, health-care and industrial stocks, as investors bet on the infrastructure spending policy promised by President-elect Donald Trump.

Seven S&P 500 industries ended higher, led by Financials (4.07%) and Health Care (3.43%) while Utilities (-3.68%) and Real Estate (-2.28%) led the losses.

However, despite the rally on Wall Street overnight, local sentiment is likely to remain cautious, limiting near-term upside.

Here's more from OCBC:

Gold for Dec delivery fell US$1.00, or 0.08%, to close at US$1273.50/ounce while Dec Silver gained 2 cents, or 0.12%, to settle at US$18.38/ounce.

Overall volume surged 28.9% with 2.7b units traded, and the total value jumped 60.1% to S$1.9b; while average value/unit was up 24.2% to S$0.68.

Overall market breadth is negative with losers outpaced gainers 2.6 to 1.

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