Daily Markets Briefing: STI up 0.43%

Expect some losses today.

The Straits Times Index (STI) ended 13.07 points or 0.43% higher to 3064.85 on Monday, taking the year-to-date performance to +6.32%.

The top active stocks today were DBS, which gained 0.74%, CapitaLand, which gained 2.14%, Singtel, which gained 0.52%, Keppel Corp, which declined 1.88% and UOB, with a 0.10% advance.

According to OCBC Investment Research, stocks dropped to close lower with the Dow logging its worst daily loss since mid-October as investors grappled with the latest policy decisions by President Donald Trump. Wall Street also looked ahead to a heavy week of economic data, corporate earnings and the latest meeting by the Federal Reserve set to begin Tuesday.

Meanwhile, nine out of eleven S&P 500 industries ended lower, with Energy (-1.76%) leading the losses while Consumer Staples (0.06%) led the gains.

"The retreat on Wall Street overnight is likely to spook the local market to a poor start this morning and sending the STI back towards 3000," OCBC said.

Here's more from OCBC:

As before, we peg the initial hurdle at 3065, ahead of 3100. On the flip side, we peg the immediate support at 3000, ahead of 2940.

Overall volume shrank 62.9% with 0.9b units traded, and total value dipped 53.8% to S$0.6b, while average value/unit added 24.6% to S$0.66.

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