Daily Markets Briefing: STI up 0.18%

Don’t expect gains today.

The Straits Times Index (STI) ended 5.7 or 0.18% higher at 3,123.46.

The top active stocks were DBS, which crashed 0.95%, UOB, which grew 0.38%, OCBC Bank, which increased 0.19%, Singtel, which dipped 0.31%, and Genting Sing, which remained flat.

The FTSE Mid Cap remained unchanged whilst the FTSE Small Cap slipped 0.05%.

According to OCBC Investment Research (OIR), US stocks finished mostly lower, with Nasdaq closing in correction territory, as the government stepped up scrutiny of technology giants for possible violations of antitrust law.

Three out of eleven S&P 500 industries ended lower, higher, with the decliners led by Communication Services (-2.79%) and Information Technology (-1.76%) whilst the gainers led by Materials (2.32%) and Energy (1.37%)

“The lackluster performance on Wall Street overnight is unlikely to bring any inspiration to local bourse this morning,” OIR said.