Daily Markets Briefing: STI down 0.21%

Expect some gains today.

The Straits Times Index (STI) ended 7.49 points or 0.21% lower to 3529.27, taking the year-to-date performance to +3.71%.

The top active stocks were DBS, which gained 0.52%, Venture, which gained 2.22%, OCBC Bank, which declined 1.44%, Singtel, which declined 0.87% and UOB, with a 0.10% advance.

The FTSE ST Mid Cap Index declined 0.46%, whilst the FTSE ST Small Cap Index declined 0.02%.

OCBC Investment Research noted that US stocks finished mostly lower, on the back of lingering uncertainty over trade negotiations between the US and China, as well as heightened bond yields.

Six out of eleven S&P 500 industries ended lower, due mainly to Financials (-0.91%) and Energy (-0.81%). Industrials (+0.41%) and Health Care (+0.27%) gained ground.

"The latest news on the US-China Trade War being put seemingly on hold could provide some reprieve to the local sentiment today," OIR said.

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