Daily Markets Briefing: STI down 0.97%

Don't expect gains today.

The Straits Times Index (STI) ended 32.69 points or 0.97% lower to 3324.04.

The top active stocks today were DBS, which declined 1.27%, UOB, which fell 1.93%, OCBC Bank, which slipped 1.24%, Singtel, which closed unchanged, and Venture, with a 3.28% fall.

The FTSE ST Mid Cap Index dipped 0.97%, whilst the FTSE ST Small Cap Index fell 0.90%.

OCBC Investment Research noted that the Dow Jones Industrial Average registered its fifth straight decline Monday, but stocks broadly managed to finish above session lows as gains in energy and technology shares helped to limit declines partly inspired by fears over trade tensions between the US and China.

Eight out of eleven S&P 500 industries ended lower. The best performers were Energy (1.12%) and Utilities (0.35%) whilst the worst performers were Telecommunication Services (-1.97%) and Consumer Staples (-1.48%).

"Lacklustre showings on Wall Street overnight and continued trade tensions between the US and China could cause local sentiment to remain cautious today," OCBC Investment Research noted.

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