Daily Markets Briefing: STI down 0.32%

Investors are urged to take caution today.

The Straits Times Index (STI) ended 11.07 points or 0.32% lower to 3438.47, taking the year-to-date performance to +19.36%.

The top active stocks were DBS, which gained 0.08%, OCBC Bank, which declined 0.48%, Singtel, which gained 0.27%, UOB, which declined 1.02% and Keppel Corp, with a 0.13% advance.

The FTSE ST Mid Cap Index declined 0.30%, whilst the FTSE ST Small Cap Index declined 0.29%.

According to OCBC Investment Research, the Dow closed at a record on Monday as investors cheered the weekend passage of the Senate version of a sweeping overhaul of the U.S. tax code. However, the S&P 500 and the Nasdaq finished lower as large-capitalization technology names took a beating.

Five out of 11 S&P 500 industries finished lower, with Information Technology, which fell 1.93%, and Real Estate, which fell 1.29%, leading the declines whilst Telecommunication Services, which rose 1.60%, led the gains.

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

Also Read

COTD: APAC deal volume falls 6.8% amidst economic uncertainties and tensions

Securitisation seen as key for Singapore developers to enhance returns

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit