Daily Markets Briefing: STI up 0.63%

Expect the market to bear some pressure today.

The Straits Times Index (STI) ended 20.29 points or 0.63% higher to 3251.26, taking the year-to-date performance to +12.86%.

The top active stocks today were DBS, which gained 1.67%, Singtel, which gained 0.55%, Global Logistic, which gained 0.31%, YZJ Shipbldg SGD, which gained 1.43% and OCBC Bank, with a 1.47% advance.

The FTSE ST Mid Cap Index gained 0.28%, while the FTSE ST Small Cap Index rose 0.43%.

According to OCBC Investment Research, US stocks closed firmly lower on Tuesday, with the S&P 500 snapping a six-day winning streak, as investors focused on heightened tensions between the West and North Korea and worries about a lack of progress on President Donald Trump’s pro-growth agenda.

Eight out of eleven S&P 500 industries finished lower, with Financials (-2.20%) and Materials (-1.42%) leading the declines while Energy (0.56%) led the gains.

“The weakness on Wall Street overnight could weigh on local sentiment today,” OCBC said.

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