Daily Markets Briefing: STI down 1.17%

Investors are urged to take caution today.

The Straits Times Index (STI) ended 40.59 points or 1.17% lower to 3438.61, taking the year-to-date performance to +1.05%.

The top active stocks were DBS, which declined 1.44%, Genting Sing, which declined 2.61%, OCBC Bank, which gained 0.23%, Singtel, which declined 1.19% and Creative, with a 70.57% advance.

The FTSE ST Mid Cap Index declined 1.15%, whilst the FTSE ST Small Cap Index declined 0.79%.

According to OCBC Investment Research, US stocks closed higher Monday, with the Dow Jones Industrial Average bouncing back from a four-session losing streak, as investors looked beyond the threat of a global trade war and instead focused on positive economic data.

All eleven S&P 500 industries ended higher, with Utilities (1.95%) and Financials (1.37%) leading the gains.

"The rebound on Wall Street overnight could bring some reprieve to the local market, but we still expect the overall tone to remain cautious," OCBC said.

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