News

Economy

Danielle Isaac

, Singapore

Published:

8 years ago

Daily Markets Briefing: STI down 0.49%

Take caution in investing today.

The Straits Times Index (STI) ended 15.9 points or 0.49% lower to 3225.95, taking the year-to-date performance to +11.98%.

The top active stocks today were DBS, which declined 0.59%, Singtel, which declined 0.81%, OCBC Bank, which declined 0.99%, ComfortDelGro, which declined 2.90% and UOB, with a 0.81% fall.

The FTSE ST Mid Cap Index declined 0.46%, while the FTSE ST Small Cap Index declined 0.49%.

According to OCBC Investment Research, all three main US stock indexes ended at all-time highs on Tuesday, as Federal Reserve policymakers began a two-day policy meeting in which they’re expected to finalize the details of their plan to begin slowly shrinking the central bank’s $4.5 trillion balance sheet.

Six out of eleven S&P 500 industries finished higher, led by Telecommunication Services (2.25%) and Financials (0.80%) whilst Real Estate (-1.03%) and Health Care (-0.78%) led the losses.

"Investors are likely to be cautious amid the two-day Fed policy meeting, as they await more details from the policymakers," OCBC said.

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