, Singapore

Daily Markets Briefing: STI down 0.68%

The persistent weakness on Wall Street amidst trade war concerns may prevent gains today.

The Straits Times Index (STI) ended 22.69 points or 0.68% lower to 3301.35, taking the year-to-date performance to -2.98%.

The top active stocks today were DBS, which slipped 0.59%, UOB, which rose 0.64%, Singtel, which declined 0.31%, OCBC Bank, which dipped 1.00% and Venture, with a 4.94% fall.

The FTSE ST Mid Cap Index declined 0.75%, whilst the FTSE ST Small Cap Index slipped 0.67%.

According to OCBC Investment Research, US stocks finished in the red on Tuesday, albeit off session lows, as investors shed stocks following President Donald Trump’s late-Monday threat to slap an additional $400 billion in tariffs on China goods.

Six out of eleven S&P 500 industries ended lower, led by Industrials (-2.14%) and Materials (-1.81%) whilst Telecommunication Services (1.42%) and Utilities (1.06%) led the gains.

"Persistent weakness on Wall Street overnight amidst trade war concerns could weigh further on local sentiment today," OCBC Investment Research noted.

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Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.
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