Daily Markets Briefing: STI down 1.26%

The weakness on Wall Street Friday could weigh on local sentiment today.

The Straits Times Index (STI) ended 41.96 points or 1.26% lower at 3284.78, taking the year-to-date performance to -3.47%.

The top active stocks today were DBS, which fell1.58%, UOB, which declined 1.20%, OCBC Bank, which slipped 1.67%, Singtel, which dipped 1.88% and CapitaLand, with a 0.30% advance.

The FTSE ST Mid Cap Index declined 0.65%, whilst the FTSE ST Small Cap Index slipped 0.35%.

According to OCBC Investment Research, the S&P 500 notched its worst daily drop since late June amidst a broad global equity retreat that was fueled by a mounting currency crisis in Turkey, which has raised the alarm for possible contagion into other markets.

Ten out of eleven S&P 500 industries ended lower, led by with Materials (-1.43%) and Financials (-1.16%) whilst Energy (0.27%) was the sole gainer. The index retreated 0.25% for the week.

"The weakness on Wall Street Friday could weigh on local sentiment today," OCBC Investment Research said.

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