Daily Markets Briefing: STI down 1.49%

Expect the local sentiment to be muted.

The STI ended 42.42 points or 1.49% lower to 2813.71 on Wednesday, taking the year-to-date performance to -2.39%.

According to OCBC, this came after US stocks closed the day up mostly higher.

Out of 11 S&P 500 industries, eight ended on the positive side, with real estate leading the gains while Healthcare still at the forefront of declines.

"The mixed showing on Wall Street overnight could keep local sentiment muted, and the index drifting sideways," the brokerage firm noted.

Here's more from the OCBC:

Nov WTI Crude lost 61 cents, or 1.20%, to close at US$50.18/barrel while Dec Brent was down 60 cents, or 1.14%, to end at US$51.81/barrel.

Gold for Dec delivery dropped US$2.57, or 0.21%, to close at US$1255.30/ounce while Dec Silver slipped 0.4 cents, or 0.02%, to settle at US$17.51/ounce.

Overall volume dropped 16% with 2.4b units traded, and the total value gained 30.39% to S$1.3b; while average value/unit gained 58% to S$0.54.

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