Daily Markets Briefing: STI down 0.86%

Expect muted gains today.

The Straits Times Index (STI) ended 27.85 or 0.86% lower at 3,192.71.

The top active stocks were DBS, which dropped 1.84%, UOB, which slid 1.55%, OCBC, which dipped 1.96%, Singtel, which slipped 0.66%, and Genting Sing with a 0.91% fall.

The FTSE Mid Cap fell 1.24% whilst the FTSE Small Cap declined 1.13%.

According to OCBC Investment Research, US stocks closed lower Tuesday breaking its four-day winning streak on the back of trade woes and fresh concerns over the state of the globaly economy.

Ten out of eleven S&P 500 industries ended lower, led by Energy (-2.2%) and Industrials (-2.07%). Utilities (0.14%) was the sole gainer.

"The weakness on Wall Street overnight could dampen the local sentiment today. Earnings also remain in focus, with a busy week ahead," OIR said.