Daily Markets Briefing: STI down 0.33%

Investment sentiment will likely remain cautious.

The Straits Times Index (STI) ended 10.57 or 0.33% lower at 3,223.71.

The top active stocks were DBS, which rose 0.39%, UOB, which went down 0.2%, OCBC Bank, which fell 0.09%, Singtel, which grew 0.32%, and SGX which dipped 0.68%.

The FTSE Mid Cap rose 0.16% whilst the FTSE Small Cap fell 0.09%.

According to OCBC Investment Research (OIR), US stocks closed higher Tuesday as the market regained some of its bullish form, a day after a sharp escalation in US-China trade tensions triggered the worst session for major indexes since early January.

Ten out of eleven S&P 500 industries ended lower, with gainers led by Information Technology (1.60%) and Energy (1.09%) whilst Utilities (-0.87%) bucked the trend.

“We expect today’s tone to remain cautious as investors continue to focus on trade tensions between the US and China,” OIR said.