Daily Markets Briefing: STI up 0.12%

Expect the market to be upbeat today.

The Straits Times Index (STI) ended 3.95 points or 0.12% higher to 3323.06, taking the year-to-date performance to +15.35%.

The top active stocks today were Singtel, which gained 0.54%, Keppel Corp, which gained 0.85%, DBS, which declined 0.33%, CityDev, which gained 1.26% and ThaiBev, with a 2.13% advance.

The FTSE ST Mid Cap Index gained 0.12%, whilst the FTSE ST Small Cap Index rose 0.13%.

According to OCBC Investment Research, US stocks closed higher Monday, with all three major indices logging another round of records, as investors looked ahead to key corporate earnings reports that could set the tone for trading and determine whether the lofty levels of the equity market are justified.

Seven out of 11 S&P 500 industries finished higher, led by Telecommunication Services, which gained 0.77%, and Financials, which rose, 0.64%, whilst Real Estate, which fell 0.44%, and Health Care, which dropped 0.38%, led the declines.

"Continued gains on Wall Street overnight could keep local sentiment fairly upbeat this morning," OCBC said.

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