Daily Markets Briefing: STI down 0.32%

Expect some good news today.

The Straits Times Index (STI) ended 11.15 points or 0.32% lower to 3468.61, taking the year-to-date performance to +1.93%.

The top active stocks were UOB, which declined 0.18%, Singtel, which declined 1.47%, DBS, which gained 0.04%, OCBC Bank, which declined 0.93% and Genting Sing, with a 2.66% advance.

The FTSE ST Mid Cap Index gained 0.02%, whilst the FTSE ST Small Cap Index declined 0.24%.

According to OCBC Investment Research, US stocks closed with solid gains on Thursday as investors looked past the latest headlines and tweets coming from the White House and turned their focus to earnings season, which kicks off on Friday.

Six out of 11 S&P 500 industries ended higher, with Financials (1.82%) and Industrials (1.45%) leading the gains, whilst Utilities (-1.28%) and Real Estate (-1.15%) led the losses.

"The gains on Wall Street overnight, after signs of easing political tensions are likely to bring some cheer to the local bourse today," OCBC said.

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