Daily Markets Briefing: STI down 0.23%

Expect some gains today.

The Straits Times Index (STI) ended 8.3 points or 0.23% lower to 3541.91, taking the year-to-date performance to +4.08%.

The top active stocks were DBS, which declined 1.13%, Singtel, which declined 0.55%, OCBC Bank, which declined 0.23%, ThaiBev, which declined 2.13% and UOB, with a 0.46% fall.

The FTSE ST Mid Cap Index gained 0.30%, whilst the FTSE ST Small Cap Index rose 0.23%.

According to OCBC Investment Research, the Dow industrials on Wednesday staged a late rally to end above 26,000 for the first time ever, knocking out another round-number milestone at a history-setting pace for blue chips, with all the main equity indexes finishing at all-time highs.

All eleven S&P 500 industries finished higher, led by Information Technology, which rose 1.58%, and Consumer Staples, which rose 1.17%.

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

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