Daily Markets Briefing: STI down 0.46%

Don't expect gains today.

The Straits Times Index (STI) ended 15.77 points or 0.46% lower to 3428.18, taking the year-to-date performance to +0.74%.

The top active stocks were Venture, which gained 2.18%, DBS, which gained 0.50%, DairyFarm USD, which declined 4.25%, StarHub, which declined 3.50% and UOB, with a 0.78% fall.

The FTSE ST Mid Cap Index declined 0.46%, whilst the FTSE ST Small Cap Index rose 0.58%.

OCBC Investment Research noted that US stocks finished broadly lower Thursday, with the U.S. decision to impose tariffs on steel and aluminum imports from the European Union, Canada and Mexico sparking promises of retaliation by trade partners and reigniting fears of a global trade war.

Nine out of eleven S&P 500 industries ended lower, with losses led by Consumer Staples (-1.61%) and Industrials (-1.45%) while Utilities (0.11%) and Information Technology (0.02%) were the sole gainers.

"The local bourse may tread cautiously today, as trade tensions remain front and center of investors’ minds," OIR said.

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