Daily Markets Briefing: STI down 0.29%

Investors urged to remain cautious today.

The Straits Times Index (STI) ended 9.41 points or 0.29% lower to 3220.95, taking the year-to-date performance to +11.81%.

The top active stocks today were Singtel, which closed unchanged, DBS, which declined 0.15%, Rowsley, which declined 2.36%, CapitaLand, which declined 1.35% and UOB, with a 0.26% fall.

The FTSE ST Mid Cap Index declined 0.49%, while the FTSE ST Small Cap Index declined 0.28%.

According to OCBC Investment Research, the Dow closed at a record for a third session in a row on Thursday even as the broader market sagged on the back of weak retail shares.

Five out of eleven S&P 500 industries finished lower. The best performers were Utilities (0.87%) and Real Estate (0.58%) while the worst performers were Consumer Discretionary (-0.55%) and Telecommunication Services (-0.40%).

“Local investors could remain cautious today amid heightened geopolitical tensions, after North Korea launched another missile over Japan on Friday morning,” OCBC said.

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