Daily Markets Briefing: STI down 0.85%

Expect no boost from Wall Street today.

The Straits Times Index (STI) ended 27.55 points or 0.85% lower to 3218.8 on Tuesday, taking the year-to-date performance to +11.73%.

The top active stocks yesterday were Global Logistic, which declined 5.92%, Suntec REIT, which declined 0.54%, Noble, which gained 4.00%, DBS, which declined 1.10% and Singtel, with a 0.51% fall.

OCBC Investment Research said the U.S. stock market remained resilient Tuesday with the Nasdaq extending its winning streak to a third session as political developments dominated the news cycle.

Meanwhile, nine of eleven S&P 500 industries ended lower, with Financials (-0.68%) and Telecommunication Services (-0.67%) leading declines. Energy (0.53%) led gains.

"The muted showing on Wall Street overnight is unlikely to provide much of a boost to the local bourse this morning," the brokerage firm said.

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