Daily Markets Briefing: STI up 0.75%

Expect some good news today.

The Straits Times Index (STI) ended 24.11 points or 0.75% higher to 3236.15, taking the year-to-date performance to +12.34%.

The top active stocks were DBS, which gained 1.80%, OCBC Bank, which gained 0.99%, UOB, which gained 1.45%, SGX, which gained 0.13% and Singtel, with a 0.82% advance.

The FTSE ST Mid Cap Index gained 0.40%, while the FTSE ST Small Cap Index rose 0.65%.

According to OCBC Investment Research, US stocks rose on Wednesday, with the Dow industrials ending a four-day losing streak and the small-cap Russell 2000 notching a record close as President Donald Trump and congressional Republicans touted a sweeping tax overhaul.

Six out of 11 S&P 500 industries finished higher, led by Financials with 1.30% and Information Technology with 1.14%, whilst Utilities with -1.34% and Real Estate with -0.84% led the declines.

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

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