Daily Markets Briefing: STI down 1.12%

Don't expect any boost coming from the Wall Street today.

The Straits Times Index (STI) ended 36.5 points or 1.12% lower to 3227.71, taking the year-to-date performance to +12.04%.

Based on the Singapore Exchange's daily market summary, the top active stocks were DBS, which declined 0.58%, Singtel, which declined 0.27%, CapitaLand, which declined 3.05%, Noble Group, which gained 11.86% and OCBC Bank, with a 0.75% fall.

According to OCBC Investment Research, this came as the tech-heavy Nasdaq closed at a record for a second session in a row as the Dow industrials and S&P 500 finished fractionally lower amid political uncertainty in the U.S.

Meanwhile, nine out of eleven S&P 500 industries ended lower, led by Utilities (-0.80%) and Telecommunication Services (-0.61%) while Information Technology (0.50%) and Financials (0.17%) gained.

Here's more from OCBC Investment Research:

The pullback on Wall Street overnight could weigh on local sentiment today.

With the breaking of the key 3250 support yesterday, the next levels of support at 3200 and 3170 may be called into play.

On the upside, the initial hurdle lies at the 3250 support-turned-resistance. Above it, we peg the next resistance at 3300.

Overall volume shrank 18.8% with 2.3b units traded, and total value dipped 2.3% to S$1.4b, while average value/unit rose 20.3% to S$0.60.