Daily Markets Briefing: STI up 0.12%

Expect some good news today.

The Straits Times Index (STI) ended 4.21 points or 0.12% higher to 3386.59, taking the year-to-date performance to +17.56%.

The top active stocks were DBS, which declined 1.12%, Singtel, which declined 0.27%, UOB, which gained 0.80%, OCBC Bank, which gained 0.52% and Genting Singapore, with a 0.74% fall.

The FTSE ST Mid Cap Index gained 0.02%, whilst the FTSE ST Small Cap Index declined 0.67%.

According to OCBC Investment Research, the US stock market closed higher Monday, with the Dow leading the gains as investors continued to focus on corporate earnings and prospects for tax cuts.

Six out of 11 S&P 500 industries finished higher, led by Telecommunication Services, which gained 0.97%, and Financials, which gained 0.49%, whilst Health Care, which fell 0.42%, and Utilities, which fell 0.31%, led the declines.

"The rebound on Wall Street overnight could provide some cheer to the local bourse today," OCBC said.