Daily Markets Briefing: STI up 0.06%

Stocks are expected to climb today.

The Straits Times Index (STI) ended 1.95 points or 0.06% higher to 3139.83 on Friday, taking the year-to-date performance to +8.99%.

The top active stocks were CapitaLand, which declined 0.55%; Global Logistic, which gained 0.35%; DBS, which declined 0.74%; Singtel, which declined 0.27%; and Keppel Corp, with a 0.15% advance.

According to KGI Morning Buzz, this came as US equities surged on better-than-expected earnings and optimism on the U.S. economy gaining strength.

“Comments by Treasury Secretary Steven Mnuchin at a conference in Washington has also raised prospects that the Trump administration would be cutting taxes soon, further bolstering stock markets that saw major U.S. indices closed higher overnight,” the report said.

More so, Asian stocks are set to climb as Japan’s central bank will continue to keep accommodative monetary policy in place and maintain the current pace of asset purchases.