Daily Markets Briefing: STI down 0.09%

But expect some cheers in the local bourse today.

The Straits Times Index (STI) ended 3.02 points or 0.09% lower to 3223.46 on Monday, taking the year-to-date performance to +11.90%.

The top active stocks yesterday were Singtel, which gained 0.26%, DBS, which declined 0.43%, OCBC Bank, which declined 0.65%, Global Logistic, which declined 0.35% and UOB, with a 0.30% fall.

OCBC Investment Research said this came as the U.S. stocks closed the first day of trading in July and the second half of 2017 in positive territory—though off the day’s best levels—on the back of a rally in energy and financials, but tech shares lagged behind.

Meanwhile, seven out of eleven S&P 500 industries ended higher, led by Energy (2.0%) and Financials (1.2%) while Information Technology (-0.9%) led the declines.

" The rebound on Wall Street overnight could bring some cheer to the local bourse this morning," OCBC Investment Research said.

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