Daily Markets Briefing: STI down 0.28%

Expect market sentiment to head South today.

The Straits Times Index (STI) ended 9.6 points or 0.28% lower to 3394.87, taking the year-to-date performance to +17.85%.

The top active stocks were Singtel, which declined 0.83%, DBS, which declined 0.53%, UOB, which declined 0.27%, OCBC Bank, which gained 0.90% and SingReinsurance, with a 4.84% advance.

The FTSE ST Mid Cap Index declined 0.14%, whilst the FTSE ST Small Cap Index declined 0.23%.

According to OCBC Investment Research, stock-market indexes closed marginally lower on Wednesday, with the Dow and S&P 500 retreating from record levels for a second session, as congressional Republicans sent tax-cut legislation to President Donald Trump for his signature.

Seven out of 11 S&P 500 industries finished lower, led by Real Estate, which fell 1.08%, and Utilities, which fell 0.78%, whilst Energy, which rose 1.38%, led the gains.

"Continued weakness on Wall Street overnight could weigh on local sentiment this morning," OCBC said.

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