Daily Markets Briefing: STI up 0.45%

Expect some gains today.

The Straits Times Index (STI) ended 15.68 points or 0.45% higher to 3483.16, taking the year-to-date performance to +2.36%.

The top active stocks were DBS, which gained 1.11%, Venture, which slipped 0.14%, OCBC Bank, which rose 0.86%, UOB, which declined 0.04% and ComfortDelGro, with a 1.62% advance.

The FTSE ST Mid Cap Index gained 0.08%, whilst the FTSE ST Small Cap Index declined 0.06%.

According to OCBC Investment Research, the Nasdaq Composite Index registered its second record close in a row on the back of a rally in the shares of technology and internet giants Netflix Inc. and Apple Inc., underscoring a resurgence in the sector that has been among the market’s more influential. However, the Dow lagged as the stocks of slumping financials and consumer-staples weighed on the blue-chip gauge.

Five out of eleven S&P 500 industries ended higher. The best performers were Materials (0.76%) and Consumer Discretionary (0.57%) whilst the worst performers were Utilities (-0.67%) and Consumer Staples (-0.48%).

"We expect the local bourse to trade with a soft tone today as investors await the G7 meeting later this week for cues on trade tensions," OCBC Investment Research said.

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