Expect markets to be fairly cautious today.
The Straits Times Index (STI) ended 4.09 points or 0.13% lower to 3253.43 taking the year-to-date performance to +12.94%.
The top active stocks yesterday were DBS, which declined 0.91%, Singtel, which gained 0.53%, OCBC Bank, which declined 0.19%, UOB, which gained 0.21% and CapitaLand, with a 0.55% fall.
OCBC Investment Research said this came as the Dow industrials closed Wednesday at a record for a second straight session but other benchmarks finished lower as the Federal Reserve hiked the fed-funds futures rate after its two-day policy meeting, as expected, and indicated that it would reduce its $4.5t balance sheet this year.
Meanwhile, five out of eleven S&P 500 industries ended lower, with Energy (-1.83%) and Materials (-1.06%) leading the declines while Consumer Staples (0.60%) and Utilities (0.59%) led the gains.
The brokerage firm said the mixed performances on Wall Street overnight could keep local sentiment fairly cautious today.
Do you know more about this story? Contact us anonymously through this link.