Daily Markets Briefing: STI up 0.31%

Expect muted gains today.

The Straits Times Index (STI) ended 10.18 or 0.31% higher at 3,325.60.

The top active stocks were DBS, which rose 0.67%, OCBC Bank, which soared 0.34%, Singtel, which grew 1.31%, and UOB which remained unchanged.

The FTSE Mid Cap grew 0.01% whilst the FTSE Small Cap went up 0.06%.

According to OCBC Investment Research, US stocks closed lower, with the S&P 500 snapping its eight-day winning streak, on fears over escalation of trade tensions with the European Union and a weaker global outlook from the International Monetary Fund.

Nine out of eleven S&P 500 industries ended lower, led by Industrials (-1.40%) and Energy (-1.29%) whilst Utilities (0.26%) and Communication Services (0.02%) led the gains.

"The local sentiment is likely to be muted today," OIR said.