Daily Markets Briefing: STI down 2.12%

Expect muted gains today.

The Straits Times Index (STI) ended 72.45 points or 2.12% lower to 3339.7, taking the year-to-date performance to +1.86%.

The top active stocks were DBS, which declined 2.61%, UOB, which declined 2.52%, OCBC Bank, which declined 3.23%, Venture, which declined 4.56% and Singtel, with a 1.48% fall.

OCBC Investment Research noted that U.S. stocks closed sharply higher Wednesday, in the latest example of heavy intraday volatility as investors continued to suss out the likelihood of, or the potential impact from, a trade war between the United States and China.

Ten of eleven S&P 500 industries ended higher, with Consumer Discretionary (1.81%) and Consumer Staples (1.52%) leading the gains. Energy (-0.14%) was the only industry that posted a decline.

“Whilst the strong performance on Wall Street overnight is likely to provide some reprieve to the local sentiment, the recent volatility in the markets will keep investors cautious as they assess the impact of developments in global trade policies,” OCBC said.

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