Daily Markets Briefing: STI down 0.18%

Don't expect gains today.

The Straits Times Index (STI) ended 5.9 points or 0.18% lower at 3322.7, taking the year-to-date performance to -2.36%.

The top active stocks today were DBS, which declined 0.30%, SIA, which declined 5.37%, CH Offshore, which gained 0.77%, Singtel, which declined 0.31% and Venture, with a 2.26% fall.

The FTSE ST Mid Cap Index declined 0.25%, while the FTSE ST Small Cap Index declined 0.24%.

According to OCBC Investment Research, US stocks closed lower following disappointing results from Twitter Inc. and bellwethers, including Exxon and Intel. The highly-anticipated release of gross domestic product data also showed that economic growth remains relatively strong but came in a shade below lofty expectations.

Eight out of eleven S&P 500 industries ended lower, led by Information Technology (-1.99%) and Real Estate (-0.93%) while Telecommunication Services (1.94%) and Financials (0.24%) led the gains. The index was up 0.61% for the week.

"We expect the local bourse to tread cautiously today, following the weakness on Wall Street Friday," OCBC Investment Research said.

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