Daily Markets Briefing: STI up 0.48%

Expect muted gains today.

The Straits Times Index (STI) ended 17.16 points or 0.48% higher to 3609.24, taking the year-to-date performance to +6.06%.

The top active stocks were DBS, which gained 1.23%, Sembcorp Marine, which declined 1.95%, Genting Sing, which gained 4.51%, Singtel, which gained 0.83% and Midas, with a 5.00% advance.

The FTSE ST Mid Cap Index declined 0.02%, while the FTSE ST Small Cap Index rose 0.16%.

OCBC Investment Research noted US stocks retreated from record territory Wednesday as technology names came under pressure, but the Dow managed to buck the trend to close higher on the back of a few blue-chip financial shares.

Five out of 11 S&P 500 industries finished lower, with Information Technology, which fell 0.91%, and Utilities, which fell 0.59%, leading the declines whilst Financials, which rose 0.68%, and Telecommunication Services, which rose 0.66%, led the gains.

"The mixed performances on Wall Street overnight are unlikely to provide much inspiration to the local bourse today," OCBC said.

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