Daily Markets Briefing: STI down 1.15%

Don't expect gains today. 

The Straits Times Index (STI) ended 37.33 or 1.15% lower at 3,212.69.

The top active stocks were OCBC, which dropped 1.07%, DBS, which slipped 1.23%, UOB, which dipped 0.75%, Singtel, which remained unchanged, and Genting Sing with a 1.92% fall.

The FTSE Mid Cap slipped 0.32% whilst the FTSE Small Cap declined 0.24%.

According to OCBC Investment Research (OIR), US stocks finished lower Thursday after a sudden breakdown in denuclearisation talks with North Korea weighed on sentiment amidst strong main index gains posted in February.

Eight out of eleven S&P 500 industries ended lower, led by Materials (-1.27%) and Energy (-0.97%). Utilities (0.41%) led the gains.

"The weakness on Wall Street overnight could keep local sentiment cautious today," OIR said.