Daily Markets Briefing: STI down 0.85%

Don't expect gains today.

The Straits Times Index (STI) ended 27.56 points or 0.85% lower at 3232.79, taking the year-to-date performance to -5.00%.

The top active stocks were DBS, which declined 1.45%, OCBC Bank, which fell 1.42%, UOB, which slipped 1.92%, Singtel, which gained 0.62% and Venture, with a 0.24% advance.

The FTSE ST Mid Cap Index declined 0.59%, whilst the FTSE ST Small Cap Index slipped 0.07%. 

OCBC Investment Research noted that the Dow industrials bucked the trend of an otherwise downbeat session as upbeat economic data and a fresh round of quarterly results failed to stoke buying appetite.

Eight out of eleven S&P 500 industries ended lower, with the decliners led by Energy (-1.18%) and Materials (-0.80%) whilst Financials (1.80%) and Telecommunication Services (0.47%) led the gainers.

"The mixed performances on Wall Street overnight are unlikely to bring much inspiration to the local bourse today," OCBC Investment Research said.