Daily Markets Briefing: STI down 0.42%

The escalating trade tensions paired with Wall Street's weakness could mute gains today.

The Straits Times Index (STI) ended 13.3 points or 0.42% lower at 3,147.69.

The FTSE ST Mid Cap Index slipped 3.16%, whilst the FTSE ST Small Cap Index dipped 0.36%.

The top active stocks were DBS which dipped -0.26%, Singtel, which dipped 0.01%, OCBC and UOB, which both decreased 0.06%, and Venture with a 0.23% fall.

OCBC Investment Research noted that US stocks closed lower to retreat for the week after President Donald Trump said the US had tariffs ready to go on another US$267b in Chinese goods, on top of tariffs on US$200b in goods the administration is now preparing.

Nine out of eleven S&P 500 index closed lower, led by Real Estate (-1.30%) and Utilities (-1.20%) while Industrials (0.55%) and Health Care (0.15%) bucked the trend. The index logged 1.03% weekly losses.

"The weakness on Wall Street Friday amidst the escalating trade tensions could continue to weigh on local sentiment today," OCBC Investment Research said.

Also Read

Daily Markets Briefing: STI down 0.7%; Top stock is DBS

Daily Markets Briefing: STI up 0.41%; Top stock is ST Engineering

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit