Daily Markets Briefing: STI down 0.51%

Wall Street's rally could bring in some reprieve for Singapore stocks.

The Straits Times Index (STI) ended 15.09 or 0.51% lower at 2,966.45.

The top active stocks were DBS, which slipped 0.23%, UOB, which fell 0.15%, OCBC, which grew 0.08%, Venture, which dipped 0.68%, and Singtel, with a 0.02%.

The FTSE Mid Cap fell 7.45% whilst the FTSE Small Cap slipped 3.45%.

According to OCBC Investment Research, stocks closed higher as President Donald Trump signalled that the US is ready to reach a deal to ease trade tensions with China, giving the market some much-needed relief.

All eleven S&P 500 industries ended higher, led by Communication Services (2.49%) and Energy (2.30%).

"The rally on Wall Street overnight could bring some reprieve to the local market, but we still expect the overall tone to be cautious," OCBC Investment Research said.

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