STOCKS | Staff Reporter, Singapore

Daily Markets Briefing: STI down 0.46%

Investors are urged to take caution today.

The Straits Times Index (STI) ended 16.55 points or 0.46% lower to 3568.01, taking the year-to-date performance to +4.85%. 

The top active stocks were DBS, which declined 0.67%, Singtel, which declined 0.88%, Venture, which declined 3.55%, OCBC Bank, which declined 0.36% and UOB, with a 0.54% advance.

The FTSE ST Mid Cap Index declined 0.39%, whilst the FTSE ST Small Cap Index declined 0.70%.

OCBC Investment Research noted that the Dow and S&P 500 ended a volatile session slightly higher Wednesday, with the two market gauges erasing early losses to turn positive in afternoon trading as strong corporate earnings appeared to overshadow an ongoing rise in bond yields.

Eight out of eleven S&P 500 industries ended higher, with Telecommunication Services (0.81%) and Energy (0.81%) leading the gains. Real Estate (-0.34%) and Information Technology (-0.12%) led the declines.

"The mixed performances on Wall Street overnight are likely to keep today’s tone cautious as investors assess the implications of rising US bond yields," OCBC said.

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