Daily Markets Briefing: STI down 0.16%

Expect some moderate gains today.

The Straits Times Index (STI) ended 5.45 points or 0.16% lower to 3433.54, taking the year-to-date performance to +19.19%.

The top active stocks were DBS, which declined 0.93%, OCBC Bank, which gained 1.22%, UOB, which gained 0.69%, Singtel, which declined 0.27% and CapitaLand Commercial Trust, with a 1.61% advance.

The FTSE ST Mid Cap Index gained 0.62%, whilst the FTSE ST Small Cap Index declined 0.65%.

According to OCBC Investment Research, US stocks rallied Thursday, with the Dow finishing above 24,000 for the first time in history, as investors grew more optimistic about the prospects for a tax overhaul out of Washington.

All eleven S&P 500 industries finished higher, led by Energy, which jumped 1.55%, and Industrials, which jumped 1.53%, whilst Real Estate, which fell 0.03%, lagged.

"The strength on Wall Street overnight could provide a modest boost to the local bourse this morning," OCBC said.

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