Daily Markets Briefing: STI up 0.12%

Sustained Wall Street gains could uplift the local bourse today.

The Straits Times Index (STI) ended 3.86 or 0.12% higher at 3,180.43.

The FTSE ST Mid Cap Index dipped 0.73%, whilst the FTSE ST Small Cap Index grew 0.58%.

The top active stocks were DBS, which inched up 0.12%, OCBC Bank, which slipped 0.12%, Keppel, which grew 0.17%, Singtel, which fell 0.10%, and Genting Sing, which closed unchanged.

According to OCBC Investment Research, US stocks closed higher, with both the Dow Jones Industrial Average and the S&P 500 setting records, as strong economic data helped to alleviate concerns over escalating US-China trade tensions. Blue chips helped to fuel the rally, with all but two of the Dow’s 30 components finishing in positive territory.

Ten out of eleven sectors in the S&P 500 indices closed higher, led by Information Technology (1.18%) and Consumer Staples (1.16%) whilst only Energy (-0.06%) closed lower.

"The continued positive performance on Wall Street overnight could possibly translate into a moderately positive, if not unchanged, sentiment in the local markets," OCBC Investment Research said.

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