Daily Markets Briefing: STI down 0.69%

Expect limited earnings today.

The Straits Times Index (STI) ended 19.49 points or 0.69% lower to 2814.6 on Friday, taking the year-to-date performance to -2.36%.

According to OCBC, this came as U.S. stocks mostly rose, with the Dow recording its fifth straight daily advance and ending at its second record close in a row, while a rebound in technology shares boosted the Nasdaq Composite.

Seven out of eleven S&P 500 industries ended lower, led by Energy (-1.66%) and Health Care (-1.49%) while Consumer Discretionary (0.58%) led the gains. The index rallied 3.8% for the week.

Here's more from OCBC:

Gold for Dec delivery fell US$42.10, or 3.32%, to close at US$1224.30/ounce while Dec Silver slipped US$1.36, or 7.23%, to settle at US$17.38/ounce. For the week, Gold and Silver lost 6.15% and 5.38% each.

While the modestly higher Wall Street close Friday could lend some support to the local bourse, sentiment could stay cautious, limiting near-term upside.

Overall volume shrank 9.3% with 2.3b units traded, and the total value increased by 16.2% to S$1.9b; while average value/unit was up 28.2% to S$0.81.

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