Daily Markets Briefing: STI down 0.89%

The weakness on Wall Street could weigh on the local markets today.

The Straits Times Index (STI) ended 28.65 points or 0.89% lower to 3201.77 on Wednesday, taking the year-to-date performance to +11.14%.

The top active stocks yesterday were Singtel, which declined 1.06%, DBS, which declined 0.24%, ComfortDelGro, which declined 1.63%, UOB, which declined 0.91% and OCBC Bank, with a 1.60% fall.

According to OCBC Investment Research, the S&P 500 and Dow industrials ended slightly lower on Wednesday, weighed down by losses in the energy sector as oil prices continued to slide. Meanwhile, eight out of eleven S&P 500 industries ended lower, with Energy (-1.60%) and Telecommunication Services (-1.22%) leading the declines while Health Care (1.23%) led the gains.

"The continued weakness on Wall Street overnight could weigh on the local sentiment this morning," the brokerage firm said.