The tamed Wall Street performance may mute gains today.
The Straits Times Index (STI) ended 5.25 points or 0.15% higher to 3518.48, taking the year-to-date performance to +3.40%.
The top active stocks were UOB, which slipped 2.73%, DBS, which fell 1.12%, OCBC Bank, which declined 1.91%, Singtel, which dipped 0.62% and Keppel Corp, with a 2.14% fall.
The FTSE ST Mid Cap Index slipped 0.22%, whilst the FTSE ST Small Cap Index rose 0.07%.
According to OCBC Investment Research, US stock benchmarks ended near session lows as the Federal Reserve completed its second increase to benchmark interest rates in 2018 as expected. However, it signalled a slightly more aggressive plan to tighten monetary policy this year than had previously been projected.
Ten out of eleven S&P 500 industries ended lower, with Telecommunication Services (-4.49%) and Real Estate (-2.32%) leading the declines while Consumer Discretionary (0.13%) was the sole gainer.
"Local sentiment is likely to sour further after the lacklustre performances on Wall Street overnight," OCBC Investment Research noted.
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