STOCKS | Staff Reporter, Singapore

Daily Markets Briefing: STI down 0.54%

Don't expect gains today.

The Straits Times Index (STI) ended 17.83 points or 0.54% lower at 3307.15, taking the year-to-date performance to -2.81%.

The top active stocks today were DBS, which declined 1.55%, UOB, which declined 1.24%, Singtel, which gained 0.63%, SIA, which declined 1.17% and OCBC Bank, with a 1.20% fall.

The FTSE ST Mid Cap Index declined 0.17%, while the FTSE ST Small Cap Index remained unchanged.

According to OCBC Investment Research, an unravelling of popular technology bets, marked by a third straight session in the red, helped to push the tech-laced Nasdaq Composite Index to its lowest close in more than three weeks.

Seven out of eleven S&P 500 industries ended lower, led by Information Technology (-1.78%) and Industrials (-0.94%) while Telecommunication Services (1.95%) and Energy (0.84%) led the gains.

"The retreat in US stocks overnight could keep local sentiment cautious today," OCBC Investment Research noted.

Do you know more about this story? Contact us anonymously through this link.

Click here to learn about advertising, content sponsorship, events & rountables, custom media solutions, whitepaper writing, sales leads or eDM opportunities with us.

To get a media kit and information on advertising or sponsoring click here.