Daily Markets Briefing: STI down 0.36%

Don't expect gains today.

The Straits Times Index (STI) ended 12.15 or 0.13% lower at 3,350.28.

The top active stocks were DBS, which dipped 0.44%, UOB, which fell 0.3%, Singtel, which slipped 0.95%, AEM, which soared 10.47%, and OCBC Bank, which declined 0.59%.

The FTSE Mid Cap fell 0.36% whilst the FTSE Small Cap rose 0.68%.

According to OCBC Investment Research (OIR), US stocks closed mostly lower Thursday as manufacturing-related sectors logged big losses, offsetting a rally in social-media shares. A double-digit decline in 3M Co.’s stock following disappointing earnings also weighed on the blue-chip Dow.

Seven out of eleven S&P 500 industries ended lower. The best performers were Health Care (1.13%) and Communication Services (1.08%) whilst the worst performers were Industrials (-1.99%) and Materials (-1.29%).

"The weakness on Wall Street overnight is likely to spook the local bourse to a poor start this morning," OIR said.

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