Daily Markets Briefing: STI down 0.07%

Wall Street's gains despite the new tariffs could uplift the local bourse today.

The Straits Times Index (STI) ended 2.06 or 0.07% lower at 3,139.34.

The FTSE ST Mid Cap Index inched up 1.02%, whilst the FTSE ST Small Cap Index dipped 1.36%.

The top active stocks were DBS, which rose 0.01%, Singtel, which closed unchanged, Genting Sing, which grew 0.10%, OCBC, which dipped 0.01%, and UOB, with a 0.04% fall.

According to OCBC Investment Research, US stocks came off earlier highs but still closed up as investors shrugged off escalating trade tensions to instead focus on the robust economy.

Seven out of eleven sectors in the S&P 500 indices closed higher, led by Consumer Discretionary (1.27%) and Industrials (0.90%) whilst Real Estate (-0.59%) and Consumer Staples (-0.44%) led the losses.

"With Wall Street closing higher overnight seemingly unfazed by the latest round of tariffs, it could provide some confidence for the local markets," OCBC Investment Research.