Daily Markets Briefing: STI down 0.36%

Expect muted gains today.

The Straits Times Index (STI) ended 11.64 or 0.36% lower at 3,250.02.

The top active stocks were DBS, which slipped 0.08%, Singtel, which dropped 2.26%, UOB, which dipped 0.36%, OCBC, which declined 0.18%, and Best World with a 1.19% advance.

The FTSE Mid Cap dipped 0.42% whilst the FTSE Small Cap rose 0.07%.

According to OCBC Investment Research (OIR), US stocks bounced off intraday lows but still closed mostly lower Wednesday as investors focused on separate congressional testimonies from US Trade representative Robert Lighthizer for the US-China trade negotiations and a second day of Congressional hearings.

Seven out of eleven S&P 500 industries ended lower, led by Health Care (-0.49%) and Real Estate (-0.39%). Energy (0.38%) and Financials (0.36%) led the gains.

"The muted performances on Wall Street overnight are likely to keep today’s sentiment soft," OIR said.

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