Daily Markets Briefing: STI down 0.35%

Trade tensions could affect gains in the local bourse today.

The Straits Times Index (STI) ended 7.96 or 0.35% lower at 3,207.2.

The FTSE ST Mid Cap Index slipped 1.04%, whilst the FTSE ST Small Cap Index gained 0.29%.

The top active stocks were DBS, which dipped 0.12%, AEM, which rose 3.63%, OCBC Bank, which dipped 0.36%, JMH, which decreased 1.98%, and Singtel, with a 0.31% fall.

OCBC Investment Research noted that US stocks kicked off September on a weak note, with all major indexes finishing lower, as investors focused on latest developments on the trade front.

Eight out of eleven S&P 500 industries closed lower, led by Telecommunication Services (-1.11%) and Real Estate (-0.90%) whilst Utilities (0.55%) and Financials (0.53%) led the gains.

“Trade tensions could continue to weigh on local sentiment today, pushing the STI to the key 3200 level,” OCBC Investment Research said.

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