Daily Markets Briefing: STI down 0.12%

Expect some good news today.

The Straits Times Index (STI) ended 4.11 points or 0.12% lower to 3497.19, taking the year-to-date performance to +2.77%.

The top active stocks were DBS, which gained 0.46%, OCBC Bank, which gained 0.15%, Singtel, which declined 0.30%, CapitaLand, which declined 1.09% and Venture, with a 1.59% fall.

The FTSE ST Mid Cap Index declined 0.37%, whilst the FTSE ST Small Cap Index declined 0.25%.

OCBC Investment Research noted that US stocks rallied on Monday, with major indexes gaining about 1% as optimism persisted over the first-quarter earnings season and as geopolitical tensions showed signs of fading.

All eleven S&P 500 industries ended higher, led by Telecommunication Services (1.49%) and Materials (1.38%).

"The rebound on Wall Street overnight could lift local sentiment," OCBC said.

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