Daily Markets Briefing: STI down 0.39%

Don't expect gains today.

The Straits Times Index (STI) ended 12.81 or 0.39% lower at 3,242.65.

The FTSE ST Mid Cap Index rose 1.38% whilst the FTSE Small Cap Index slipped 0.80%.

The top active stocks were DBS, which fell 0.34%, Singtel, which dipped 0.14%, UOB, which slipped 0.32%, YZJ, which grew 0.03%, and Singtel, which closed unchanged.

OCBC Investment Research noted that the Dow Jones Industrial Average rose for a fourth straight session, logging its 14th record close of 2018, even as the broader market fell on lingering trade worries.

Four out of eleven S&P 500 industries closed lower, led by Consumer Discretionary (-1.41%) and Real Estate (-0.28%) whilst Utilities (1.28%) and Consumer Staples (0.62%) led the gains.

"The mixed performances on Wall Street overnight amidst the continuing concerns in Indonesia and Italy could keep the local sentiment cautious today," OCBC Investment Research said.

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