Daily Markets Briefing: STI down 0.28%

Expect some good news today.

The Straits Times Index (STI) ended 9.01 points or 0.28% lower to 3227.14, taking the YTD performance to +12.02%.

The top active stocks today were DBS, which gained 0.10%, JMH USD, which gained 0.70%, OCBC Bank, which declined 0.53%, Singtel, which declined 1.08% and UOB, with a 0.76% fall.

The FTSE ST Mid Cap Index gained 0.11%, whilst the FTSE ST Small Cap Index declined 0.10%.

According to OCBC Investment Research, US stock benchmarks posted slight gains on Thursday, but the advance was enough to record a trio of all-time highs for three closely followed benchmarks: the Russell 2000, Dow transports and the S&P 500. The Trump administration’s tax-overhaul proposal continued to fuel some buying appetite for equities.

Nine out of 11 S&P 500 industries finished higher, led by Materials at 0.70% and Real Estate at 0.61% whilst Industrials which fell 0.09% and Consumer Discretionary which dipped 0.05% lost ground.

"Continued gains on Wall Street overnight could provide a lift to the local sentiment today," OCBC said.

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