Daily Markets Briefing: STI down 0.77%

But expect gains today.

The Straits Times Index (STI) ended 21.98 points or 0.77% lower to 2816.67 on Monday, taking the year-to-date performance to -2.29%.

According to OCBC Investment Research, this came as U.S. stocks closed higher at fresh records, aided by a jump in oil prices and a pullback in the dollar, giving the Dow industrials, S&P 500 and Nasdaq their third simultaneous all-time closing highs this year.

Nine out of eleven S&P 500 industries ended higher, with Energy (2.20%) and Materials (1.25%) leading the gains while Real Estate (-0.17%) bucked the trend.

These gains could keep local buorse sentiment fairly upbeat.

Here's more to OCBC:

Gold for Dec delivery rose US$1.10, or 0.09%, to close at US$1209.80/ounce while Mar Silver decreased by 10 cents, or 0.60%, to settle at US$16.62/ounce.

We believe that the STI is likely to remain largely range-bound for now. We expect the STI to hold around 2800 to 2850 in the near term, and probably even 2770 to 2860.

Overall volume jumped 9.5% with 1.8b units traded, and the total value was up 15.5% to S$1.3b; while average value/unit rose 5.6% to S$0.70.

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