Daily Markets Briefing: STI down 0.38%

The local bourse is off to a muted start today.

The Straits Times Index (STI) ended 12.29 points or 0.38% lower to 3211.17 on Tuesday, taking the year-to-date performance to +11.47%.

The top active stocks yesterday were Singtel, which declined 0.26%, DBS, which gained 0.19%, Global Logistic, which declined 1.05%, OCBC Bank, which declined 1.03% and UOB, with a 0.65% fall.

OCBC Investment Research noted that the US stock market was closed due to Independence day.

As such, European stocks edged lower Tuesday, with the region’s benchmark pulling back from its biggest rally in two months, as North Korea’s latest missile launch dented appetite for risk.

"With Wall Street closed last night, the local bourse could get off to a muted start," the brokerage firm said.