STOCKS | Staff Reporter, Singapore

Daily Markets Briefing: STI down 0.77%

Expect muted gains today.

The Straits Times Index (STI) ended 24.80 or 0.77% lower at 3,205.46.

The top active stocks were DBS, which crashed 2.6%, OCBC Bank, which dipped 0.62%, UOB, which went down 0.72%, Singtel, which remained unchanged, and Genting Sing, which fell 1.11%.

The FTSE Mid Cap slipped 0.67% whilst the FTSE Small Cap dipped 0.13%.

According to OCBC Investment Research (OIR), US stocks closed lower Monday as souring US-China trade relations continued to weigh on sentiment, with technology shares taking the brunt of the selling pressure.

Eight out of eleven S&P 500 industries ended lower, led by Information Technology (-1.75%) and Real Estate (-1.62%). The best performers were Utilities (0.17%) and Financials (0.13%).

“Today’s sentiment is likely to remain cautious as U.S-China tech tensions rise over the sanctions on Huawei,” OIR said.

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.