Expect some bad news today.
The Straits Times Index (STI) ended 4.2 points or 0.12% lower to 3520.45, taking the year-to-date performance to +3.45%.
The top active stocks today were DBS, which gained 0.19%, OCBC Bank, which declined 0.39%, Singtel, which declined 0.28%, UOB, which declined 0.43% and Venture, with a 4.22% advance.
The FTSE ST Mid Cap Index gained 0.20%, whilst the FTSE ST Small Cap Index declined 0.14%.
According to OCBC Investment Research, the S&P 500 and Nasdaq logged their first decline in 2018 as traders monitored US bonds following an accelerated rise in the yield on the 10-year Treasury note. This was prompted by a report that China is considering halting purchases of US debt.
Nine out of eleven S&P 500 industries finished lower, with real estate falling 1.54%, utilities slipping 1.13%, whilst financials and industrials gained 0.85% and 0.08% respectively.
“The weakness on Wall Street overnight could weigh on local sentiment this morning,” OCBC said.
Do you know more about this story? Contact us anonymously through this link.