Expect muted gains today.
The Straits Times Index (STI) ended 74.53 points or 2.12% lower to 3443.95, taking the year-to-date performance to +1.21%.
The top active stocks were DBS, which declined 3.16%, Singtel, which declined 1.50%, UOB, which declined 3.18%, OCBC Bank, which declined 3.00% and Venture, with a 2.13% fall.
The FTSE ST Mid Cap Index declined 0.98%, whilst the FTSE ST Small Cap Index declined 1.15%.
OCBC Investment Research noted that US stocks rose sharply, rebounding from the previous day’s rout, as energy shares bounced back amidst a rally for oil prices and worries over Italy’s political crisis faded.
All eleven S&P 500 industries ended higher, led by Energy (3.11%) and Financials (1.94%).
"The rebound on Wall Street overnight might allay some fears and worries over the impact of Italy’s political crisis in the local sentiment, shifting attention to China trade tensions," OIR said.
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