Daily Markets Briefing: STI up 0.2%

Expect muted gains today.

The Straits Times Index (STI) ended 7.19 points or 0.2% higher to 3577.21, taking the year-to-date performance to +5.12%.

The top active stocks were DBS, which gained 0.87%, Venture, which declined 3.69%, UOB, which gained 0.17%, OCBC Bank, which declined 0.80% and Singtel, with a 1.45% advance.

The FTSE ST Mid Cap Index gained 0.51%, whilst the FTSE ST Small Cap Index rose 0.08%.

According to OCBC Investment Research, US stock benchmarks closed out Friday little changed, and booked modest losses, as investors expressed muted enthusiasm following strong corporate results, even from some of the market’s biggest and most influential companies.

Seven out of 11 S&P 500 industries ended higher, led by Telecommunication Services (1.75%) and Real Estate (1.32%). Energy (-1.22%) and Information Technology (-0.32%) led the declines. The index was slightly down 0.01% for the week.

"The muted performances on Wall Street Friday are unlikely to provide a strong boost to the local bourse today," OCBC said.

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