Daily Markets Briefing: STI down 0.35%

Don't expect gains today.

The Straits Times Index ended 11.23 or 0.35% lower at 3,222.84.

The top active stocks were Singtel, which inched up 2.98 points, DBS, which grew 25.36 points, UOB, which rose 25.10 points, and JMH USD, which edged up 66.25 points.

The FTSE Mid Cap Index rose 0.31% whilst the FTSE Small Cap closed unchanged.

According to OCBC Investment Research (OIR), stocks closed lower for a third session in a row on tepid US data as the Federal Reserve’s Beige Book, an anecdotal account of business conditions, showed the partial government shutdown had weighed on economic activity.

Nine out of eleven S&P 500 industries ended lower, led by Health Care (-1.47%) and Energy (-1.28%) whilst Materials (0.20%) and Utilities (0.03%) gained ground.

"Today’s tone is likely to remain soft, following the weakness on Wall Street overnight, as global growth concerns resurface," OIR said.