Daily Markets Briefing: STI down 0.64%

Don’t expect gains today.

The Straits Times Index (STI) ended 20.28 or 0.64% lower at 3,143.

The top active stocks were DBS, which crashed 1%, Singtel, which grew 0.63%, UOB, which dipped 0.91%, OCBC Bank, which fell 1.38%, and ComfortDelGro, which increased 1.23%.

According to OCBC Investment Research (OIR), US stocks logged small gains in a choppy session as bond yields halted their slide, giving the market a reprieve from selling sparked by continued US-China trade tensions and worries about global economic growth.

Seven out of eleven S&P 500 industries ended higher. The best performers were Real Estate (0.65%) and Information Technology (0.60%) whilst the worst performers were Energy (-1.18%) and Financials (-0.44%).

“We expect today’s tone to remain cautious as trade tensions continue with latest news from President Trump’s import tariffs plan on Mexico,” OIR said.