Daily Markets Briefing: STI down 0.12%

Expect some bad news today.

The Straits Times Index (STI) ended 4.2 points or 0.12% lower to 3520.45, taking the year-to-date performance to +3.45%.

The top active stocks today were DBS, which gained 0.19%, OCBC Bank, which declined 0.39%, Singtel, which declined 0.28%, UOB, which declined 0.43% and Venture, with a 4.22% advance.

The FTSE ST Mid Cap Index gained 0.20%, whilst the FTSE ST Small Cap Index declined 0.14%.

According to OCBC Investment Research, the S&P 500 and Nasdaq logged their first decline in 2018 as traders monitored US bonds following an accelerated rise in the yield on the 10-year Treasury note. This was prompted by a report that China is considering halting purchases of US debt.

Nine out of eleven S&P 500 industries finished lower, with real estate falling 1.54%, utilities slipping 1.13%, whilst financials and industrials gained 0.85% and 0.08% respectively.

“The weakness on Wall Street overnight could weigh on local sentiment this morning,” OCBC said.

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