Daily Markets Briefing: STI down 0.61%

Investors are urged to take caution today.

The Straits Times Index (STI) ended 21.68 points or 0.61% lower to 3517.73, taking the year-to-date performance to +3.37%.

The top active stocks were DBS, which declined 1.75%, Singtel, which gained 0.59%, UOB, which declined 0.83%, Genting Sing, which gained closed unchanged, and OCBC Bank, with a 0.74% fall.

The FTSE ST Mid Cap Index declined 0.42%, whilst the FTSE ST Small Cap Index rose 0.12%.

According to OCBC Investment Research, the S&P 500 fell for a fourth session Thursday, marking its worst string of losses so far this year, as worries about an escalating trade war overshadowed robust economic data. However, the Dow snapped a three-day losing streak as economy-sensitive blue chips outperformed the broader market.

Eight out of 11 S&P 500 industries ended lower, led by Materials (-1.28%) and Consumer Staples (-0.64%) whilst Industrials (0.33%) and Financials (0.09%) led the gains.

"The mixed performances on Wall Street overnight could keep local investors cautious today," OCBC said.

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