Daily Markets Briefing: STI down 0.2%

Don't expect gains today.

The Straits Times Index (STI) ended 6.28 or 0.2% lower at 3,207.2.

The FTSE ST Mid Cap Index gained 1.68%, whilst the FTSE ST Small Cap Index fell -1.32%.

The top active stocks were DBS, which dipped 0.80%, Singtel, which slipped 0.63%, ST Engineering, which inched up 0.30%, JMH USD, which rose 0.16%, and OCBC Bank, with a 0.09% fall.

OCBC Investment Research noted that the US stock market was closed for Labour Day.

Meanwhile, Europe’s main stock gauge finished little changed, with analysts citing uncertainty over global trade tensions. Trading could be somewhat muted as US investors take a break for Labour Day.

"With the Wall Street closed last night, the local bourse could get off to a muted start this morning. But we expect the over tone to be cautious today amidst the escalating US-China trade tensions," OCBC Investment Research said.