Daily Markets Briefing: STI down 0.33%

Local sentiment could be fairly upbeat.

According to SGX, The Straits Times Index (STI) ended 11.71 points or 0.33% lower to 3489.45, taking the year-to-date performance to +2.54%.

The top active stocks were DBS, which declined 0.68%, Singtel, which declined 0.28%, UOB, which declined 0.41%, OCBC Bank, which gained closed unchanged and Midas, with a 5.73% advance.

OCBC said that continued strength on Wall Street Friday could keep local sentiment fairly upbeat this morning.

"We keep the initial hurdle at 3530, ahead of 3580. On the downside, the immediate support remains at 3475, followed by the next support level at 3400. Overall volume shrank 25.4% with 2.0b units traded and total value fell 44.3% to S$1.1b, while average value/unit dipped 25.3% to S$0.56," it added.

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