Wall Street's muted performance could keep the local sentiment cautious today.
The Straits Times Index (STI) ended 14.55 or 0.47% lower at 3,053.60.
The top active stocks were DBS, which grew 0.02%, UOB, which dipped 0.08%, YZJ, which slipped 0.03%, Singtel, which slipped 0.01%, and Best World, with a 0.04% advance.
The FTSE Mid Cap dipped 0.06% whilst the FTSE Small Cap fell 3.53%.
According to OCBC Investment Research (OIR), stocks closed mostly lower after a volatile session Tuesday as oil prices cratered, dragging the energy sector sharply lower, and a resolution of the US-China trade war remained elusive.
Six out of eleven S&P 500 industries ended lower, led by Energy (-2.39%) and Health Care (-0.68%) whilst Financials (0.59%) and Industrials (0.45%) led the gains.
“The muted performances on Wall Street overnight, ahead of key data on China’s economy are likely to keep local sentiment cautious today,” OIR said.
Do you know more about this story? Contact us anonymously through this link.