Daily Markets Briefing: STI down 0.01%

Investors are urged to take caution today.

The Straits Times Index (STI) ended 0.41 points or 0.01% lower to 3438.06, taking the year-to-date performance to +19.35%.

The top active stocks were DBS, which gained 0.81%, OCBC Bank, which gained 1.21%, Singtel, which closed unchanged, UOB, which gained 0.23% and CapitaLand, with a 1.70% fall.

The FTSE ST Mid Cap Index declined 0.17%, while the FTSE ST Small Cap Index declined 0.33%.

According to OCBC Investment Research, US stock market indices closed lower on Tuesday, driven by losses in utilities, telecoms and industrial sectors. An earlier rebound in the technology sector fizzled out, sending the Nasdaq Composite into negative territory, reversing solid gains in the morning.

Out of 11 S&P 500 industries, 10 finished lower, with Telecommunication Services, which dropped 1.78%, and Utilities, which dropped 1.24%, leading the declines whilst Information Technology, which rose 0.21%, registered gains.

"The mixed closing on Wall Street overnight could continue to keep local sentiment cautious today," OCBC said.

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