Daily Markets Briefing: STI down 0.09%

Investors turned cautious after disappointing corporate earnings.

The Straits Times Index (STI) ended 2.75 or 0.09% lower at 3,199.50.

The top active stocks were DBS, which remained unchanged, OCBC, which edged up 0.44%, UOB, which dipped 0.19%, Singtel, which dropped 0.66%, and Genting Sing with a 1.89% advance.

The FTSE Mid Cap slipped 0.29% whilst the FTSE Small Cap dipped 0.07%.

According to OCBC Investment Research (OIR), US stocks closed lower Monday in the wake of disappointing earnings from Caterpillar Inc. as investors turned cautious with the onslaught of earnings data, a Federal Reserve meeting and a new round of US-China trade talks.

Nine out of eleven S&P 500 industries ended lower, led by Information Technology (-1.4%) and Communication Services (-1.15%). Real Estate (0.96%) and Consumer Staples (0.46%) were the sole gainers.

"The weakness on Wall Street overnight is likely to weigh on local sentiment on concerns that trade conflict between US and China is hitting corporate profits," OIR said.

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