Daily Markets Briefing: STI up 0.55%

Expect some moderate gains today.

The Straits Times Index (STI) ended 18.98 points or 0.55% higher to 3442.15, taking the year-to-date performance to +19.49%.

The top active stocks were Keppel Corp, which gained 2.11%, DBS, which gained 1.54%, Singtel, which declined 0.27%, Global Logistic, which closed unchanged and COSCO SHP SG, with a 13.83% advance.

The FTSE ST Mid Cap Index gained 0.32%, whilst the FTSE ST Small Cap Index rose 0.18%.

According to OCBC Investment Research, the S&P 500 and Nasdaq Composite finished at all-time highs Friday, with all three main benchmarks booking their first weekly gains in three weeks.

Eight out of 11 S&P 500 industries finished higher, led by Information Technology, which rose 0.54%, and Materials, which rose 0.45%, whilst Telecommunication Services, which dropped 0.29%, and Financials, which dropped 0.15%, led the declines. The index advanced 0.91% for the week.

"The strength on Wall Street Friday could provide a modest boost to the local bourse today," OCBC said.

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