Daily Markets Briefing: STI up 0.47%

Local sentiment will be weak today.

The Straits Times Index (STI) ended 16 points or 0.47% higher to 3449.54, taking the year-to-date performance to +19.74%.

The top active stocks were DBS, which gained 0.61%, OCBC Bank, which declined 0.24%, Singtel, which gained 0.27%, UOB, which gained 1.26% and CapitaLand, with a 1.13% advance.

The FTSE ST Mid Cap Index declined 0.31%, while the FTSE ST Small Cap Index rose 0.40%.

According to OCBC Investment Research, US stocks ended lower on Friday after news surrounding former national-security adviser Michael Flynn added an element of political uncertainty into markets, though the issue was not seen as derailing a market rally that gave the Dow its best week of the year.

Four out of 11 S&P 500 industries finished lower, with Industrials, which fell 1.17%, and Materials, which fell 0.85%, leading the declines, whilst Energy, which rose 0.80%, led the gains. For the month, the index rallied 2.81%.

"The weakness on Wall Street Friday could weigh on local sentiment this morning," OCBC said.

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