Daily Markets Briefing: STI down 0.4%

Risk-off sentiments spilled over from US markets.

According to KGI Fraser, Singapore stocks saw more losers than gainers due to with risk-off sentiments spilling over from the US markets.

Noble Group (S$0.650; -2.3%) continued to be battered with fading investor interest, while Singapore Airlines (S$11.33; -3.2%) gave back the bulk of the gains on Monday.

"Perhaps with results falling below expectations, the share price of CapitaLand Mall Trust (S$2.14; -1.8%) retreated. Its retail mall peer Frasers Centrepoint Trust also (S$2.06; HOLD; TP: S$2.03) reported results yesterday. The results were decent with record DPU, though its FY16F yield of 5.6% appears uncompelling in the face of rising interest rates and slowing rental growth," KGI Fraser said.