Daily Markets Briefing: STI up 0.29%

Don’t expect gains today.

The Straits Times Index (STI) ended 9.17 or 0.29% higher at 3,169.89.

The top active stocks were DBS, which grew 0.04%, YZJ Shipbldg, which dipped 0.73%, Singtel, which went up 0.96%, UOB, which increased 0.24%, and SGX, which jumped 2.15%.

The FTSE Mid Cap grew 0.47% whilst the FTSE Small Cap rose 0.47%.

According to OCBC Investment Research (OIR), US stocks closed higher Friday ahead of the long weekend as trade-war fears receded somewhat following reports President Donald Trump may ease restrictions against Huawei Technologies Inc. as part of a bigger trade deal with China.

Nine out of eleven S&P 500 industries ended higher, led by Financials (0.77%) and Materials (0.50%) whilst Consumer Staples (-0.40%) and Utilities (-0.21%) lost ground. The index posted 1.17% weekly losses.

“Despite the mild rebound on Wall Street Friday, we expect the overall sentiment to remain cautious today,” OIR said.