Daily Markets Briefing: STI down 0.29%

Pullback on Wall Street extends STI's losing streak.

The STI ended 8.23 points or 0.29% lower to 2805.48 on Thursday, taking the year-to-date performance to -2.68%.

According to OCBC, this came after US stocks ended the day lower with Federal Reserve's policy meeting and weaker than expected trade data from China.

More so, five of the 11 S&P 500 industries ended lower, with Financials leading the declines while Utilities led the gains.

This pullback is expected to weigh on the local bourse today, extending the STI's losing streak.

Here's more from OCBC:

Nov WTI Crude gained 26 cents, or 0.52%, to close at US$50.44/barrel while Dec Brent was up 22 cents, or 0.42%, to end at US$52.03/barrel.

Gold for Dec delivery rose by US$3.80, or 0.30%, to close at US$1257.60/ounce while Dec Silver lost 4.7 cents, or 0.27%, to settle at US$17.46/ounce.

Overall volume gained 3.1% with 2.5b units traded, and the total value dropped 4.1% to S$1.3b; while average value/unit dropped 7.4% to S$0.50.

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