Daily Markets Briefing: STI down 0.56%

Expect muted gains today.

The Straits Times Index (STI) ended 18.2 or 0.56% lower at 3,243.92 taking the year-to-date performance to -3.63, taking the year-to-date performance to -7.41.

The FTSE ST Mid Cap Index fell 2.34%, whilst the FTSE ST Small Cap Index slipped -1.30%.

The top active stocks were DBS, which dipped 1.39%, OCBC, which slipped 0.88%, UOB, which slid 1.07%, Singtel, which declined 0.61%, and Venture, with a 2.33% fall.

According to OCBC Investment Research, US stocks snapped a four-day winning streak to finish lower, with the Dow falling back below 26,000, on a report that President Donald Trump is likely to press ahead with tariffs against US$200b worth of Chinese products.

Ten out of eleven S&P 500 industries ended lower, with Materials (-1.26%) and Financials (-0.79%) leading the declines whilst Utilities (0.13%) gained.

“We expect the local bourse to tread water today, awaiting further newsflow on US-China trade tensions,” OCBC Investment Research said.

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