Daily Markets Briefing: STI up 0.06%

Expect muted gains today.

The Straits Times Index (STI) ended 2.05 or 0.06% higher at 3,327.65.

The top active stocks were DBS, which dipped 0.11%, OCBC Bank, which slipped 0.34%, YZJ Shipbldg SGD, which fell 0.61%, Singtel, which rose 0.32%, and UOB, which grew 0.23.

According to OCBC Investment Research (OIR), US stocks closed higher, with the Dow Jones Industrial Average edging into positive territory just ahead of the closing bell, as the minutes from the Federal Reserve’s March meeting reassured investors that the central bank is in no hurry to resume raising interest rates.

Eight out of eleven S&P 500 industries ended higher, led by Real Estate (0.73%) and Information Technology (0.70%) whilst Utilities (-0.38%) and Materials (-0.03%) led the losses.

“We think the local sentiment is likely to continue to be muted ahead of the release of economic data such as China’s CPI print on Thursday and trade balances on Friday,” OIR said.

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