Daily Markets Briefing: STI down 0.99%

Expect muted gains today.

The Straits Times Index (STI) ended 34.65 points or 0.99% lower to 3479.2, taking the year-to-date performance to +2.24%.

The top active stocks were Venture, which declined 0.30%, OCBC Bank, which declined 1.14%, UOB, which declined 1.03% and Singtel, with a 0.30% fall.

The FTSE ST Mid Cap Index declined 0.34%, whilst the FTSE ST Small Cap Index declined 0.10%.

According to OCBC Investment Research, US stocks ended mostly higher on Friday, with the S&P 500 and the Nasdaq erasing an early decline to end higher as investors viewed the reaction to an announcement of tariffs as overdone.

Seven out of 11 S&P 500 industries ended higher, led by Health Care (1.01%) and Information Technology (0.97%) whilst Real Estate (-0.35%) led the declines. The index retreated 3.89% for the month.

"The mixed performances on Wall Street Friday are unlikely to bring much in terms of cues to the local bourse this morning," OCBC said.

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