Daily Markets Briefing: STI up 0.04%

Find out which firms underperformed.

According to KGI Fraser, The STI in Singapore gapped-up at the start of the session, taking cue from the strong U.S. closing the night before, but trended down throughout the rest of the session to close only marginally higher by 1.05 points (or +0.04%), at 2,916.78.

Here’s more from KGI Fraser:

The biggest influencers propping up the index were, Singtel (+0.8%) ComfortDelGro (+1.7%) and UOB (+0.4%, HOLD, TP: S$20.88).

On the other hand, stocks that dragged the index down include, DBS (-0.4%; BUY, TP: S$20.38), SIA (-1.3%) and Noble Group (-3.5%).

The sell-down in Noble Group gained steam following comments from Moody’s that it is reviewing Noble’s investment grade credit rating, following its weak set of results.