Daily Markets Briefing: STI down 1.41%

Investors will remain cautious today.

According to SGX, the Straits Times Index (STI) ended 46.29 points or 1.41% lower to 3230.97, taking the year-to-date performance to +12.16%. The top active stocks were Singtel, which declined 1.08%, DBS, which declined 1.31%, YZJ Shipbldg SGD, which declined 6.69%, CapitaLand Mall Trust, which declined 1.38% and UOB, with a 1.83% fall. The FTSE ST Mid Cap Index declined 1.02%, while the FTSE ST Small Cap Index declined 0.70%.

Continued geopolitical tensions in North Korea could cause investors to remain cautious today, said OCBC Investment Research.

Here's more from OCBC:

As such, we could see the STI drifting lower today, in the direction of 3200. Below it, we peg the next support level at 3165.

On the upside, we keep the initial hurdle at 3320, ahead of 3350.

Overall volume tumbled 12.6% with 1.9b units traded, and total value dipped 21.9% to S$1.2b, while average value/unit fell 10.7% to S$0.61.

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