Daily Markets Briefing: STI down 0.44%

Don't expect gains today.

The Straits Times Index (STI) ended 15.35 points or 0.44% lower to 3467.81, taking the year-to-date performance to +1.91%.

The top active stocks were DBS, which declined 1.03%, OCBC Bank, which slipped 0.62%, Venture, which gained 1.02%, Singtel, which dipped 0.31%. and Genting Sing, with a 3.13% fall.

The FTSE ST Mid Cap Index gained 0.01%, whilst the FTSE ST Small Cap Index declined 0.03%.

OCBC Investment Research noted that U.S. stocks closed firmly higher, with two major indexes ending at records as equities extended a recent winning streak to a fourth straight session.

Ten out of eleven S&P 500 industries ended higher with Materials (1.87%) and Financials (1.84%) leading the gains whilst Utilities (-2.13%) bucked the trend.

"The gains on Wall Street overnight could lift local sentiment," OCBC Investment Research noted.

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