Daily Markets Briefing: STI down 0.47%

Wall Street's muted performance could keep the local sentiment cautious today.

The Straits Times Index (STI) ended 14.55 or 0.47% lower at 3,053.60.

The top active stocks were DBS, which grew 0.02%, UOB, which dipped 0.08%, YZJ, which slipped 0.03%, Singtel, which slipped 0.01%, and Best World, with a 0.04% advance.

The FTSE Mid Cap dipped 0.06% whilst the FTSE Small Cap fell 3.53%.

According to OCBC Investment Research (OIR), stocks closed mostly lower after a volatile session Tuesday as oil prices cratered, dragging the energy sector sharply lower, and a resolution of the US-China trade war remained elusive.

Six out of eleven S&P 500 industries ended lower, led by Energy (-2.39%) and Health Care (-0.68%) whilst Financials (0.59%) and Industrials (0.45%) led the gains.

“The muted performances on Wall Street overnight, ahead of key data on China’s economy are likely to keep local sentiment cautious today,” OIR said.