Daily Markets Briefing: STI down 0.18%

The weakness on Wall Street could weigh on the local market today.

The Straits Times Index (STI) ended 5.85 points or 0.18% lower to 3248.34 on Monday, taking the year-to-date performance to +12.76%.

According to SGX Daily Market Summary, the top active stocks yesterday were Singtel, which gained closed unchanged, DBS, which declined 0.63%, OCBC Bank, which gained closed unchanged, UOB, which declined 0.55% and Ascendas REIT, with a 1.11% advance.

OCBC Investment Research said this came as major US stock-market benchmarks closed lower, weighed by a second straight session of firm losses in technology shares, but the shift away from tech appears to be feeding recently unloved sectors and smaller-cap stocks.

Meanwhile, six out of eleven S&P 500 industries ended lower, with Information Technology (-0.81%) leading the declines while Telecommunication Services (0.90%) led the gains.

The brokerage firm said this weakness on Wall Street could weigh on local sentiment today.

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