Daily Markets Briefing: STI down 0.43%

Don’t expect gains today.

The Straits Times Index (STI) ended 14.14 or 0.43% lower at 3,283.84. 3,269.70

The top active stocks were DBS, which rose 0.08%, UOB, which went down 0.97%, Singtel, which fell 0.97%, OCBC Bank, which slipped 1.14%, and Capitaland which dipped 3.68%.

According to OCBC Investment Research (OIR), US stocks pulled well off the day’s lows Thursday but the S&P 500 and the Nasdaq finished lower for a fourth session as trade tensions ramped up after US President Donald Trump threatened tariff retaliation on China, which he claims “broke the deal”.

Nine out of eleven S&P 500 industries ended lower, led by Materials (-0.81%) and Information Technology (-0.68%) whilst Real Estate (0.33%) and Energy (0.07%) gained ground.

“The continued weakness on Wall Street overnight could keep local sentiment cautious today,” OIR said.