Daily Markets Briefing: STI down 0.27%
Concerns about the emerging markets and trade tensions could mute gains today.
The Straits Times Index (STI) ended 8.59 points or 0.27% lower at 3,147.69.
The FTSE ST Mid Cap Index slipped 0.21%%, whilst the FTSE ST Small Cap Index fell 0.43%.
The top active stocks were DBS which dipped -0.77%, YZJ, which closed unchanged, Singtel, which slipped 0.32%, Genting Sing, which decreased 1.85% and JMH, with a 0.70% fall.
OCBC Investment Research noted that the S&P 500 and the Nasdaq finished lower for a third session on mounting concerns about contagion from a handful of struggling emerging economies on top of unresolved trade tension.
Five out of eleven S&P 500 index closed lower, led by Energy (-1.93%) and Information Technology (-0.82%) whilst Telecommunication Services (0.72%) and Utilities (0.39%) led the gains.
“The local sentiment is likely to remain cautious today, amidst the ongoing concerns about emerging markets and trade tensions,” OCBC Investment Research said.
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