Daily Markets Briefing: STI up 0.16%

Wall Street's weakness could weigh on local markets today.

The Straits Times Index (STI) ended 5.16 points or 0.16% higher to 3323.24 on Thursday, taking the year-to-date performance to +15.36%.

The top active stocks yesterday were Global Logistic, which declined 0.92%; DBS, which gained 1.14%; Singtel, which declined 0.27%; OCBC Bank, which gained 1.07%; and Venture, with a 0.64% fall.

OCBC Investment Research said this came as all three major equity benchmarks finished sharply lower for their worst day since mid-May, with the trifecta of indexes all tumbling for a third straight session for the first time since mid-April, amid a persistent war of words between the U.S. and North Korea.

Meanwhile, ten out of eleven S&P 500 industries ended lower, with Information Technology (-2.18%) and Financials (-1.77%) leading the losses while Utilities (0.25%) gained.

"The continued weakness on Wall Street overnight is likely to weigh on local sentiment today," OCBC Investment Research said.

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