Daily Markets Briefing: STI down 0.35%

Wall Street's gains could uplift the local bourse today.

The Straits Times Index (STI) ended 11.01 points or 0.35% lower at 3,109.91.

The FTSE ST Mid Cap Index fell inched up 0.72%, whilst the FTSE ST Small Cap Index fell 2.90%.

The top active stocks are DBS, which slipped 0.25%, YZJ, which grew 5.51%, Singtel, which rose 0.32%, JMH, which dipped 1.31%, and SPH, with a 0.37% fall.

OCBC Investment Research noted that US stocks shrugged off a wobbly start to close higher, with the Dow climbing by triple digits, as energy and telecommunications rallied. However, trade worries were simmering below the surface as investors continued to watch the situation between the US and China.

Six out of eleven S&P 500 indices closed higher, led by Telecommunication Services (1.08%) and Energy (0.98%) whilst Consumer Staples (-0.39%) and Utilities (-0.35%) led the losses.

"The positive performance on Wall Street overnight could continue to bring some reprieve to the local market, but we expect the overall tone to remain cautious." OCBC Investment Research said.

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