Daily Markets Briefing: STI down 1.19%

Don't expect gains today.

The Straits Times Index (STI) ended 40.85 points or 1.19% lower to 3397.21, taking the year-to-date performance to +17.93%.

The top active stocks were DBS, which declined 2.26%, UOB, which declined 1.98%, Singtel, which gained 0.80%, OCBC Bank, which declined 3.04% and Global Logistic, with a 0.30% fall.

The FTSE ST Mid Cap Index declined 0.59%, while the FTSE ST Small Cap Index declined 0.64%.

According to OCBC Investment Research, US stocks ended mixed on Wednesday, as weakness in the energy sector spurred some minor selling that offset a recovery in the technology sector.

Six out of 11 S&P 500 industries finished lower, led by Energy, which dropped 1.29%, and Telecommunication Services, which dropped 0.94%, whilst Information Technology, which rose 0.75%, led the gains.

"The mixed performances on Wall Street overnight are unlikely to provide much in terms of cues to local bourse this morning," OCBC said.

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