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Daily Markets Briefing: STI down 0.06%
Don’t expect gains today.
The Straits Times Index (STI) ended 2.04 or 0.06% lower at 3,163.28.
The top active stocks were DBS, which dipped 0.44%, UOB, which slipped 0.82%, Singtel, which went up 0.95%, OCBC Bank, which fell 0.46%, and CityDev, which grew 0.6%.
According to OCBC Investment Research (OIR), US stocks bounced off lows but still ended weaker as worries about trade tensions on top of global growth uncertainties spooked Wall Street, fueling buying in government bonds.
All eleven S&P 500 industries ended lower, led by Utilities (-1.34%) and Real Estate (-1.15%).
“Continued weakness on Wall Street overnight could weigh on local sentiment,” OIR said.
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