Daily Markets Briefing: STI down 0.26%

Expect muted gains today.

The Straits Times Index (STI) ended 0.26% lower to 3412.46 as the start of US-China talks are spurring local market optimism.

All eleven S&P 500 industries ended higher, led by Information Technology (4.03%) and Financials (3.24%).

OCBC Investment Research noted that U.S. stocks on Monday recorded their largest one-day percentage gains since the summer of 2015, with major indexes recouping nearly half of their losses from last week

“The rebound on Wall Street overnight after reports that the US and China are conducting talks to avert a global trade war could bring some reprieve to the local bourse today,” said OCBC added.

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