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Daily Markets Briefing: STI down 0.48%
Gains from Wall Street could lift local sentiment.
The Straits Times Index (STI) ended 15.98 points or 0.48% lower to 3278.95, taking the year-to-date performance to +13.82%.
The top active stocks today were DBS, which declined 1.88%, Singtel, which closed unchanged, OCBC Bank, which declined 0.18%, UOB, which declined 0.96% and YZJ Shipbldg SGD, with a 2.24% advance.
The FTSE ST Mid Cap Index declined 0.21%, while the FTSE ST Small Cap Index declined 0.48%.
OCBC Investment Research said US stocks closed moderately higher Wednesday, restoring the Dow above the psychologically-important 22,000 mark, after Federal Reserve minutes suggested that the central bank is wrestling with sluggish inflation but eager to commence an unwind of its $4.5 trillion asset portfolio.
Nine out of eleven S&P 500 industries ended higher, led by Materials (0.92%) and Consumer Discretionary (0.45%) while Energy (-1.13%) and Financials (-0.24%) lost ground.
"The gains on Wall Street overnight could provide a lift to the local sentiment this morning," OCBC said.
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