Daily Markets Briefing: STI down 0.13%

Expect muted gains today.

The Straits Times Index (STI) ended 4.23 or 0.13% lower at 3,353.47.

The top active stocks were DBS, which dipped 0.11%, UOB, which grew 0.11%, Singtel, which remained unchanged,ThaiBev, which went up 0.6%, and Sembcorp Marine, which jumped 4.68%.

According to OCBC Investment Research (OIR), the S&P 500 and Nasdaq closed at record highs Tuesday as investors cheered the latest batch of solid corporate earnings, including those from blue-chip Coca-Cola Co. and social-media brands such as Twitter Inc.

Ten out of eleven S&P 500 industries ended higher, led by Health Care (1.60%) and Communication Discretionary (1.22%) whilst Consumer Staples (-0.12%) bucked the trend.

"The gains on Wall Street overnight are likely to bring some cheer to the local bourse today," OIR said.

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