Daily Markets Briefing: STI down 0.63%
The Straits Times Index (STI) ended 20.02 or 0.63% lower at 3,141.40.
The FTSE ST Mid Cap Index slipped -2.84%, whilst the FTSE ST Small Cap Index dipped 0.67%.
The top active stocks were DBS, which dipped 0.30%, Singtel, which closed unchanged, Genting Sing, which slipped 0.10%, and UOB, which fell 0.28%.
OCBC Investment Research noted that US stocks closed lower, with the S&P 500 and the Dow snapping multiday win streaks, as President Donald Trump prepared to announce additional tariffs on Chinese imports while China hinted at a new round of retaliation.
Seven out of eleven sectors in the S&P 500 indices closed higher, led by Real Estate (0.49%) and Consumer Staples (0.35%) whilst Information Technology (-1.40%) and Consumer Discretionary (-1.27%) led the losses.
“The losses on Wall Street overnight will serve little inspiration for the local markets and hence we expect a muted performance,” OCBC Investment Research said.
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