Daily Markets Briefing: STI down 0.14%

Expect muted gains today.

The Straits Times Index (STI) ended 4.45 or 0.14% lower at 3,191.42.

The top active stocks were SGX, which dipped 3.737%, DBS, which went up 0.24%, HI-P, which soared 10.97%, OCBC Bank, which edged down 0.18%, and UOB with a 0.44% decline.

The FTSE Mid Cap dipped 0.06% whilst the FTSE Small Cap rose 0.1%.

According to OCBC Investment Research (OIR), US stocks snapped a five-day losing streak to close higher Monday as technology shares rallied, offsetting some of the gloom from Boeing Co.’s woes after the second deadly crash in about six months involving the company’s 737 Max 8 aircraft.

All eleven S&P 500 industries ended higher, led by Information Technology (2.17%) and Communication Services (1.87%).

“The rebound in the US markets overnight could help lift local sentiment,” OIR said.

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