The STI could head south today.
The Straits Times Index (STI) ended 32.99 points or 0.95% lower to 3435.78, taking the year-to-date performance to +19.27%.
The top active stocks were DBS, which declined 1.27%, UOB, which declined 1.42%, Singtel, which declined 0.53%, OCBC Bank, which declined 2.22% and Keppel Corp, with a 1.68% fall.
The FTSE ST Mid Cap Index declined 0.02%, whilst the FTSE ST Small Cap Index declined 0.04%.
According to OCBC Investment Research, US stock-market indexes relinquished earlier gains, finishing lower on Thursday, with the selling pressure coming from health-care, materials sectors and telecoms sectors.
Ten out of 11 S&P 500 industries finished lower, led by Materials, which fell 1.09%, and Health Care, which fell 1.05%, whilst Consumer Discretionary, which rose 0.27%, was the sole gainer.
"The pullback on Wall Street overnight could weigh on local sentiment, potentially sending the STI south," OCBC said.
Do you know more about this story? Contact us anonymously through this link.