Daily Markets Briefing: STI down 0.06%

Don’t expect gains today.

The Straits Times Index (STI) ended 1.89 or 0.06% lower at 3,198.39.

The top active stocks were DBS, which remained unchanged, OCBC Bank, which went down 0.64%, UOB, which dipped 0.24%, ThaiBev, which jumped 4.27%, and CapitaLand which rose 1.44%.

The FTSE Mid Cap went up 0.15% whilst the FTSE Small Cap grew 0.58%.

According to OCBC Investment Research, US stocks bounced off session lows but finished in the red as sentiment remained sensitive to mounting signs of slowing global growth, reflected in falling bond yields on the heels of increasingly dovish central banks.

Ten out of eleven S&P 500 industries ended lower, led by Health Care (-0.81%) and Energy (-0.70%) whilst Industrials (0.10%) was the sole gainer.

“The weakness on Wall Street overnight amid the global growth worries is likely to weigh on local sentiment today,” OIR said.