Daily Markets Briefing: STI down 0.27%

Local markets could remain cautious today.

The Straits Times Index (STI) ended 8.41 points or 0.27% lower to 3108.62 on Monday, taking the year-to-date performance to +7.91%.

The top active stocks today were DBS, which declined 0.32%, CapitaLand, which gained 0.55%, Singtel, which gained 0.51%, JSH USD, which declined 0.61% and ComfortDelGro, with a 0.41% advance.

This came as the U.S. stocks overcame early weakness to push further into record territory, with the Dow industrials posting a 12th straight record close as investors await a speech Tuesday night by President Donald Trump.

OCBC said six out of eleven S&P 500 industries ended higher, led by Energy (0.87%) while Telecommunication Services (-1.21%) led the losses.

"Despite the gains on Wall Street overnight, local sentiment could remain cautious ahead of the Trump speech, limiting any near-term upside," OCBC noted.

Here's more from the firm:

As before, we keep the initial hurdle at 3140, ahead of 3165; on the downside, we maintain the immediate support at 3100, ahead of 3070.

Overall volume shrank further 29.3%, dropping to 2.3b units traded, and total value fell 19.6% to S$1.1b, while average value/unit gained 13.8% to S$0.50.