Daily Markets Briefing: STI down 0.95%

The STI could head south today.

The Straits Times Index (STI) ended 32.99 points or 0.95% lower to 3435.78, taking the year-to-date performance to +19.27%.

The top active stocks were DBS, which declined 1.27%, UOB, which declined 1.42%, Singtel, which declined 0.53%, OCBC Bank, which declined 2.22% and Keppel Corp, with a 1.68% fall.

The FTSE ST Mid Cap Index declined 0.02%, whilst the FTSE ST Small Cap Index declined 0.04%.

According to OCBC Investment Research, US stock-market indexes relinquished earlier gains, finishing lower on Thursday, with the selling pressure coming from health-care, materials sectors and telecoms sectors.

Ten out of 11 S&P 500 industries finished lower, led by Materials, which fell 1.09%, and Health Care, which fell 1.05%, whilst Consumer Discretionary, which rose 0.27%, was the sole gainer.

"The pullback on Wall Street overnight could weigh on local sentiment, potentially sending the STI south," OCBC said.

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