Daily Markets Briefing: STI down 0.17%

Don’t expect gains today.

The Straits Times Index (STI) ended 5.45 or 0.17% lower at 3,165.32.

The top active stocks were DBS, which dipped 0.56%, Singtel, which grew 0.64%, UOB, which went up 0.24%, OCBC Bank, which fell 0.18%, and YZJ Shipbldg, which remained unchanged.

According to OCBC Investment Research (OIR), US stocks closed near intraday lows Tuesday after major benchmarks surrendered earlier gains as investors sought new catalysts after a long holiday weekend whilst monitoring US-China trade tensions.

Ten out of eleven S&P 500 industries ended lower, led by Consumer Staples (-1.79%) and Utilities (-1.61%) whilst Communication Services (0.17%) was the sole gainer.

“The local bourse looks set for declines after the US market fell on trade concerns,” OIR said.