Daily Markets Briefing: STI up 0.05%

Don't expect gains today.

The Straits Times Index (STI) ended 1.48 or 0.05% higher at 3,219.16.

The FTSE ST Mid Cap Index dipped 0.25% whilst the FTSE Small Cap Index fell 0.35%.

The top active stocks were DBS, which slipped 0.20%, OCBC Bank, which grew 0.07%, UOB, which rose 0.38%, Singtel, which dipped 0.01%, and Wheelock Properties, with a 0.07% fall.

According to OCBC Investment Research, US stocks closed mostly lower as the US-China trade war entered a new phase when tariffs on billions of dollars of products took effect. Investors were also looking ahead to the Federal Reserve’s two-day monetary policy meeting, which wraps Wednesday and is likely to result in another interest-rate hike.

Three out of eleven sectors in the S&P 500 indices closed higher, led by Energy (1.47%) and Information Technology (0.44%) whilst Real Estate (-1.89%) and Consumer Staples (-1.50%) led the losses.

"The local markets would likely be a little muted today with most of the U.S stocks closing lower," OCBC Investment Research said.