Daily Markets Briefing: STI down 0.49%

But expect a lift from Wall Street today.

The Straits Times Index (STI) ended 16.4 points or 0.49% lower to 3326.52 on Friday, taking the year-to-date performance to +15.47%.

The top active stocks that day were DBS, which declined 2.67%; CapitaLand, which gained 3.21%; Singtel which gained 0.26%; HongkongLand USD, which gained 2.77%; and UOB, with a 1.15% fall.

OCBC Investment Research said this came as the U.S. stocks closed higher on Friday, with the Dow ending at a record for an eighth straight session following a read on the labor market that came in above expectations, a sign that current valuations may be supported by current economic activity.

Meanwhile, eight out of eleven S&P 500 industries ended higher, led by Financials (0.72%) while Utilities (-0.29%) led the losses. For the month, the index advanced 1.93%.

"The gains on Wall Street Friday could help lift local sentiment this morning," the brokerage firm said.

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