Daily Markets Briefing: STI down 0.71%
Expect no gains today.
The Straits Times Index (STI) ended 23.96 points or 0.71% lower to 3330.75 on Friday, taking the year-to-date performance to +15.62%.
The top active stocks yesterday were Singtel, which gained 0.76%; DBS, which declined 2.56%; Rowsley, which declined 9.09%; OCBC Bank, which declined 0.87%; and Global Logistic, with a closed unchanged.
According to OCBC Investment Research, this came as the S&P 500 and Nasdaq both finished slightly lower for weekly losses as Amazon.com shares slumped on disappointing earnings, while the Dow industrials finished at a record for a weekly gain.
Meanwhile, eight out of eleven S&P 500 industries ended lower, with Consumer Staples (-0.91%) and Consumer Discretionary (-0.74%) leading the declines while Health Care (0.50%) led the gains. The index was down 0.02% for the week.
"The muted showings on Wall Street Friday could cause the local sentiment to remain cautious today," the brokerage firm said.