Daily Markets Briefing: STI up 0.17%

Expect some boosts today.

The Straits Times Index (STI) ended 5.82 points or 0.17% higher to 3340.73, taking the year-to-date performance to +15.97%.

The top active stocks were DBS, which gained 0.65%, Keppel Corp, which gained 3.99%, Global Logistic, which closed unchanged, Singtel, which closed unchanged and OCBC Bank, with a 0.44% advance.

The FTSE ST Mid Cap Index gained 0.41%, whilst the FTSE ST Small Cap Index declined 0.23%.

According to OCBC Investment Research, after the Senate passed a budget blueprint for the next fiscal year, paving the way for tax cuts that some believe to be crucial in keeping the bull market alive, US stocks extended their gains with major indexes closing at records.

Nine out of 11 S&P 500 industries finished higher, led by Financials, which gained 1.16%, and Industrials, which gained 1.07%, while Consumer Staples, which fell 0.2%, and Real Estate, which fell 0.11%, led the declines. The index was up 0.86% for the week.

"The strong performance on Wall Street overnight is likely to provide a boost to the local bourse today," OCBC said.

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