Daily Markets Briefing: STI up 0.2%

Expect more boosts today.

The Straits Times Index (STI) ended 7.18 points or 0.22% higher to 3235.69, taking the year-to-date performance to +12.32%.

The top active stocks today were Singtel, which declined 0.81%, DBS, which gained 0.29%, CapitaLand, which gained 1.08%, OCBC Bank, which gained 0.92% and SPH, with a 1.53% fall.

The FTSE ST Mid Cap Index gained 0.09%, while the FTSE ST Small Cap Index rose 0.18%.

According to OCBC Investment Research, all three major US stock indexes booked all-time closing highs on Tuesday, though gains were capped by unsteady trade in technology, after a brisk, broad-market run-up in the previous session.

Nine out of eleven S&P 500 industries finished higher, led by Telecommunication Services (1.37%) and Financials (1.21%) while Utilities (-1.75%) and Real Estate (-1.18%) lost ground.

“Continued strength on Wall Street overnight could keep local sentiment modestly upbeat, potentially extending the STI’s 0.2% gains yesterday,” OCBC said.

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