Daily Markets Briefing: STI down 1.1%

Investors are urged to take caution today.

The Straits Times Index (STI) ended 39.6 points or 1.1% lower to 3575.68, taking the year-to-date performance to +5.08%.

The top active stocks were DBS, which declined 4.35%, UOB, which declined 1.37%, Venture, which gained 1.70%, OCBC Bank, which declined 1.50% and Singtel, with a 0.57% advance.

The FTSE ST Mid Cap Index declined 0.83%, whilst the FTSE ST Small Cap Index declined 0.59%.

OCBC Investment Research noted that US stock benchmarks ended off their lows Thursday, and the Dow erased a triple-digit intraday drop to end higher, in choppy action as investors awaited a key reading of monthly employment on Friday.

Eight out of 11 S&P 500 industries ended lower, led by Health Care (-0.87%) and Financials (-0.85%). Materials (0.34%) and Information Technology (0.29%) led the gains.

"Continued weakness on Wall Street overnight ahead of the monthly US jobs report could cause today’s tone to remain cautious," OCBC said.

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