Daily Markets Briefing: STI down 0.37%

Investors turned cautious as they await the Fed's monetary plans.

The Straits Times Index (STI) ended 11.81 or 0.37% lower at 3,187.69.

The top active stocks were DBS, which remained unchanged, UOB, which dropped 1.16%, Genting Sing, which edged up 0.93%, OCBC, which slipped 1.04%, and Singtel with a 0.33% fall.

The FTSE Mid Cap dropped 1.69% whilst the FTSE Small Cap declined 1.20%.

According to OCBC Investment Research (OIR), the S&P 500 and the Nasdaq closed lower as investors sorted through a fresh batch of earnings reported and awaited clarity from the Federal Reserve on its monetary plans. The Dow however, bucked the broader weakness buoyed by Pfizer and 3M.

Four out of eleven S&P 500 industries ended lower, led by Communications Services (-1.06%) and Information Technology (-1.01%). Industrials (1.37%) and Materials (1.01%) led the gains.

"The mixed performances on Wall Street overnight are likely to keep the local sentiment soft today, as investors digest the corporate earnings and await the Fed's policy meeting," OIR said.

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