Daily Markets Briefing: STI down 0.17%

Investors are urged to take caution today.

The Straits Times Index (STI) ended 5.79 points or 0.17% lower to 3436.36, taking the year-to-date performance to +19.29%.

The top active stocks were Singtel, which closed unchanged, OCBC Bank, which gained 0.33%, Keppel Corp, which gained 0.52%, DBS, which declined 0.88% and UOB, with a 0.81% fall.

The FTSE ST Mid Cap Index gained 0.16%, whilst the FTSE ST Small Cap Index declined 0.58%.

According to OCBC Investment Research, US stocks closed mostly lower on Monday after touching intraday records as an early rally in retail shares largely fizzled. However, the blue-chip Dow Jones bucked the weak trend to eke out a gain.

Five out of 11 S&P 500 industries finished lower, led by Energy, which dropped 1.03%, and Materials, which dropped 0.60%, whilst Utilities, which rose 0.46%, and Telecommunication Services, which rose 0.39%, led the gains.

"The muted performances on Wall Street overnight could keep local sentiment cautious today," OCBC said.

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