Daily Markets Briefing: STI down 0.52%

Expect markets to regain some ground this week.

The Straits Times Index (STI) ended 16.89 points or 0.52% lower to 3251.99 on Friday, taking the year-to-date performance to +12.89%.

The top active stocks that day were DBS, which declined 0.15%; CapitaLand Mall Trust, which gained 0.47%; Singtel, which declined 0.27%; OCBC Bank, which declined 1.26%; and Best World, with a 15.46% advance.

According to KGI, this came as global equity markets took a beating last week amid geopolitical tensions, terror attacks in Europe and dampened confidence on the U.S. President’s agenda to pass business-friendly legislation.

"We expect market to regain some ground in the current week ahead as economic fundamentals remained positive and growth momentum in the major economies continues to be on track," it said.