Daily Markets Briefing: STI down 0%

Don't expect gains today.

The Straits Times Index (STI) ended 0.12 or 0% lower at 3,183.14.

The top active stocks were DBS, which fell 1.2%, OCBC Bank, which dipped 0.63%, UOB, which went down 1.21%, Genting Sing, which slipped 0.57%, and Singtel, which remained unchanged.

The FTSE Mid Cap grew 0.02% whilst the FTSE Small Cap rose 0.44%.

According to OCBC Investment Research (OIR), US stocks finished lower Wednesday as lingering trade woes overshadowed the release of the minutes from the Federal Reserve’s policy meeting that was largely interpreted as accommodative.

Six out of eleven S&P 500 industries ended lower. The best performers were Utilities (0.81%) and Health Care (0.63%) whilst worst performers were Energy (-1.58%) and Consumer Discretionary (-0.90%). 

“The STI is likely to track the losses on Wall Street overnight amidst trade tensions,” OIR said.