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Daily Markets Briefing: STI down 0.99%

Don't expect any boost today.

The Straits Times Index (STI) ended 32.17 points or 0.99% lower to 3226.48, taking the year-to-date performance to +12.00%.

The top active stocks yesterday were DBS, which declined 0.58%, Singtel, which gained 0.26%, Wilmar Intl, which declined 3.74%, OCBC Bank, which declined 1.46% and UOB, with a 1.70% fall.

OCBC Investment Research said this came as the U.S. stocks closed modestly higher Friday after trimming gains in the last few minutes of the session. However, steep losses in technology and health-care stocks earlier in the week resulted in poor weekly and mixed monthly performances for all three benchmarks.

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Meanwhile, six out of eleven S&P 500 industries ended higher, led by Industrials (0.76%) while Utilities (-0.12%) led the declines. For the month, the index advanced 0.48%.

"The mixed performances on Wall Street Friday are unlikely to provide much of a boost to the local bourse today," OCBC Investment Research said.



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