Daily Markets Briefing: STI up 0.88%

Expect more support from the Wall Street today.

The Straits Times Index (STI) ended 28.97 points or 0.88% higher to 3308.69 on Monday, taking the year-to-date performance to +14.85%.

The top active stocks yesterday were DBS, which gained 1.20%; Singtel, which gained 0.27%; YZJ Shipbldg SGD, which gained 3.60%; OCBC Bank, which gained 1.61%; and CapitaLand, with a 2.16% advance.

According to OCBC Investment Research, this came as the U.S. stocks gained with the S&P 500 rising 1% for the first time in three months as the verbal standoff between the U.S. and North Korea cooled for now.

Meanwhile, ten out of eleven S&P 500 industries ended higher, led by Real Estate (1.70%) and Information Technology (1.60%) while Energy (-0.27%) bucked the trend.

"The continued gains on Wall Street overnight could provide some support to the local bourse today," the brokerage firm said.

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