STOCKS | Staff Reporter, Singapore

Daily Markets Briefing: STI down 0.38%

Expect muted gains.

The Straits Times Index (STI) ended 12.6 points or 0.38% lower to 3287.4, taking the year-to-date performance to -3.39%.

The top active stocks were DBS, which declined 0.52%, Singtel, which declined 1.27%, UOB, which declined 0.83%, Venture, which declined 0.17% and OCBC Bank, with a 1.01% fall.

The FTSE ST Mid Cap Index gained 0.69%, whilst the FTSE ST Small Cap Index rose 0.81%.

OCBC Investment Research noted that U.S. stock benchmarks ended mostly higher on Friday as an OPEC-inspired rally in energy shares helped the Dow industrials halt a lengthy slide, but equities rang up weekly losses in a period pockmarked by a series of trade-related spats.

Eight out of eleven S&P 500 industries ended higher, led by Energy (2.20%) and Materials (1.38%) whilst Financials (-0.53%) and Information Technology (-0.38%) led the declines. The index retreated 0.89% for the week.

“The mixed performances on Wall Street Friday could keep the overall sentiment cautious today. Investors also assess the impact as China loosened policy,” added OCBC Investment Research.

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