Daily Markets Briefing: STI down 0.69%

Expect muted gains today.

The Straits Times Index (STI) ended 22.19 points or 0.69% lower at 3211.93, taking the year-to-date performance to -5.61%.

The top active stocks were OCBC Bank, which fell 1.41%, DBS, which declined 0.52%, Singtel, which gained 0.65%, UOB, which dipped 1.37% and YZJ Shipbldg SGD, with a 3.85% advance.

The FTSE ST Mid Cap Index slipped 0.30%, whilst the FTSE ST Small Cap Index declined 0.24%.

According to OCBC Investment Research, US stocks rallied to close higher, with the Dow having its best day in four months, on strong corporate earnings from Walmart Inc. and Cisco Systems Inc. News that the US and China are prepared to resume trade talks next week also bolstered investors’ sentiment.

All eleven S&P 500 industries ended higher, led by Telecommunications (2.01%) and Consumer Staples (1.52%) whilst Information Technology (0.25%) and Consumer Discretionary (0.45%) were the laggards.

"The recovery on Wall Street overnight from Wednesday’s session could provide a reprieve in the local sentiment," OCBC Investment Research noted.

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