Daily Markets Briefing: STI up 0.28%

Expect local sentiment to be fairly cautious today.

The Straits Times Index (STI) ended 8.74 points or 0.28% higher to 3126.93, taking the year-to-date performance to +8.55%.

The top active stocks yesterday, according to SGX, were Singtel, which declined 0.77%, DBS, which declined 0.11%, JSH USD, which gained 4.28%, Kimly, which declined 7.84% and ThaiBev, with a 1.08% advance. The FTSE ST Mid Cap Index gained 0.21%, while the FTSE ST Small Cap Index rose 0.73%.

According to OCBC, the weakness on Wall Street overnight could make local sentiment fairly cautious today.

"As before, we peg the initial hurdle at 3150, ahead of the key resistance at 3200; on the downside, we maintain the immediate support at 3100, ahead of 3065. Overall volume shrank 8.0% with 2.3b units traded, and total value lost 18.5% to S$1.0b, while average value/unit dipped 1.4% to S$0.45," added OCBC.

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