Daily Markets Briefing: STI up 1.31%

Expect more good news today.

The Straits Times Index (STI) ended 42.19 points or 1.31% higher to 3262.1, taking the year-to-date performance to +13.24%.

The top active stocks today were DBS, which gained 2.02%, Singtel, which gained 0.54%, OCBC Bank, which gained 0.90%, UOB, which gained 2.13% and CapitaLand, with a 1.68% advance.

The FTSE ST Mid Cap Index gained 0.63%, whilst the FTSE ST Small Cap Index rose 0.52%.

According to OCBC Investment Research, US stock benchmarks closed at all-time highs on Monday afternoon, as equities resumed a steady run-up that could set the tone for the final three months of 2017.

Seven out of 11 S&P 500 industries finished higher, led by Materials which grew 1.09% and Health Care which rose 0.95%. Real Estate which fell -0.41% and Consumer Staples which dipped -0.20% led the losses.

"Continued strength on Wall Street overnight should keep local sentiment modestly upbeat," OCBC said.