Daily Markets Briefing: STI down 0.27%

Don't expect gains today.

The Straits Times Index (STI) ended 8.75 points or 0.27% lower at 3,234.12, taking the year-to-date performance to -8.75%.

The FTSE ST Mid Cap Index rose 0.48%, whilst the FTSE ST Small Cap Index slipped 0.82%.

According to OCBC Investment Research, US stocks came off intraday lows but still closed down, as worries surrounding Turkey’s currency crisis and continued trade tensions weighed on investors’ confidence.

Seven out of eleven S&P 500 industries ended lower, led by Energy (-3.53%) and Materials (-1.55%) whilst Real Estate (0.84%) and Utilities (0.76%) led the gains.

"The weakness on Wall Street overnight could weigh on local sentiment," OCBC Investment Research noted.