Daily Markets Briefing: STI up 0.37%

Wall Street's gains could uplift the local bourse today.

The Straits Times Index (STI) ended 11.34 or 0.37% higher at 3,054.53.

The top active stocks were DBS, which dipped 0.05%, OCBC, which slipped 0.08%, Singtel, which rose 0.03%, ComfortDelGro, which fell 0.07%, and UOB, with a 0.11% advance.

The FTSE Mid Cap fell 1.90% whilst the FTSE Small Cap dipped 0.07%.

According to OCBC Investment Research, stocks closed higher with the S&P 500 snapping a five-day losing streak as cautious optimism took hold following a report that the US may back off from its belligerent stance against China on trade whilst solid economic data offset underwhelming earnings from Walmart Inc.

Eight out of eleven S&P 500 industries ended higher, led by Information Technology (2.46%) and Energy (1.47%) whilst Real Estate (-0.86%) and Utilities (-0.77%) led the losses.

"The gains on Wall Street overnight amidst cautious optimism over trade spat is likely to lift local sentiment today," OCBC Investment Research said.

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