Daily Markets Briefing: STI up 0.31%

Optimism over thawing US-China frictions could boost the local bourse.

The Straits Times Index (STI) ended 9.90 or 0.31% higher at 3,224.34.

The top active stocks were DBS, which grew 0.24%, OCBC, which inched up 0.17%, YZJ Shipbuilding SGD, which climbed 2.27%, UOB, which rose 0.38%, and Singtel with a 0.66% advance.

The FTSE Mid Cap rose 2.41 % whilst the FTSE Small Cap grew 1.65%.

According to OCBC Investment Research, the stock market closed higher Friday which extended its winning streak to a fourth session on media reports that stoked hopes for progress in trade talks between US and China. The overall optimism over a potential bilateral deal helped ease worries about the prolonged partial government shutdown and mixed corporate results.

All eleven S&P 500 industries ended higher, led by Energy (1.93%) and Industrials (1.86%).

"The STI is likely to continue its climb today, following the strength on Wall Street Friday, as optimism over US-China trade talk mounts," OIR said.

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