Daily Markets Briefing: STI down 0.03%

Expect some boosts today.

The Straits Times Index (STI) ended 0.97 points or 0.03% lower to 3419.13, taking the year-to-date performance to +18.69%.

The top active stocks were DBS, which declined 1.08%, Singtel, which declined 1.06%, Genting Sing, which closed unchanged, COSCO SHP SG, which gained 23.86% and Keppel Corp, with a 2.13% advance.

The FTSE ST Mid Cap Index gained 0.51%, whilst the FTSE ST Small Cap Index rose 0.56%.

According to OCBC Investment Research, US stocks closed marginally higher Monday after the Dow and the S&P 500 posted their first weekly drops in two months last week. The upside was capped, however, as uncertainty continued to swirl around the state of Republican tax-cut legislation while blue-chip General Electric Co. tumbled to a more-than-five-year low.

Seven out of 11 S&P 500 industries finished higher, led by Utilities, which rose 1.16%, and Consumer Staples, which rose 0.60%, whilst Energy, which dipped 0.54%, and Industrials, which dipped 0.50%, led the declines.

"The gains on Wall Street overnight could lift local sentiment this morning," OCBC said.

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