STOCKS | Staff Reporter, Singapore

Daily Markets Briefing: STI down 0.23%

Don't expect gains today.

The Straits Times Index ended 7.16 or 0.23% lower at 3,062.51.

The top active stocks were YZJ, which dipped 0.19%, DBS, which slipped 0.09%, UOB, which fell 0.15%, Singtel which climbed 0.03%, and OCBC, with a 0.01% advance.

The FTSE Mid Cap slipped 7.08% whilst the FTSE Small Cap fell 1.66%.

According to OCBC Investment Research, US stocks closed mostly lower with bulls failing to defend early gains as weak housing data overshadowed solid corporate earnings.

Five out of eleven S&P 500 industries ended lower, led by Health Care (-0.95%) and Consumer Discretionary (-0.89%) while Consumer Staples (2.32%) led the gains. The index was up 0.02% for the week.

"The lacklustre performances on Wall Street Friday could cause investors to remain cautious today," OCBC Investment Research said.

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