Daily Markets Briefing: STI up 0.7%

Don't expect any boosts today.

The Straits Times Index (STI) ended 22.81 points or 0.7% higher to 3303.09, taking the year-to-date performance to +14.66%.

The top active stocks today were Singtel, which closed unchanged, OCBC Bank, which gained 0.97%, DBS, which gained 0.80%, ThaiBev, which gained 2.16% and CityDev, with a 2.43% advance.

The FTSE ST Mid Cap Index gained 0.16%, while the FTSE ST Small Cap Index rose 0.08%.

According to OCBC Investment Research, the US stock market heralded the beginning of third-quarter earnings season by finishing slightly lower on Thursday, even as Wall Street banks turned in generally upbeat results.

Five out of 11 S&P 500 industries finished lower, led by Telecommunication Services, which dipped -3.54%, and Financials, which decreased -0.72%, whilst Real Estate, which went up 0.69%, and Industrials, which rose 0.52%, led the gains.

"The weakness on Wall Street overnight could keep local sentiment cautious today, limiting any potential upside," OCBC said.

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