Daily Markets Briefing: STI down 0.01%

Expect muted gains today.

The Straits Times Index (STI) ended 0.47 or 0.01% lower at 3,277.91.

The top active stocks were DBS, which dropped 1.08%, OCBC, which slipped 0.86%, UOB, which remained unchanged, Singtel, which inched up 0.33%, and ST Engineering with a 1.59% fall.

The FTSE Mid Cap dipped 0.08% whilst the FTSE Small Cap rose 0.18%.

According to OCBC Investment Research (OIR), US stocks finished lower Thursday as fresh economic data out of Europe and Japan suggest further slowing in global growth.

Seven out of eleven S&P 500 industries ended lower, led by Energy (-1.55%) and Health Care (-0.88%). Utilities (0.75%) led the gains.

"We expect the local bourse to trade on a more cautious tone today, as investors weigh the weak economic data and also await more newsflow on the US-China trade negotiations," OIR said.