Daily Markets Briefing: STI up 0.48%

Wall Street's weakness could spell a muted start for the local bourse today.

The Straits Times Index (STI) ended 15.14 or 0.48% higher at 3,198.65.

The top active stocks were DBS, which climbed 1.39%, UOB, which grew 0.29%, Singtel, which inched up 0.01%, OCBC, which rose 0.04%, and CapitaLand with no change.

The FTSE Mid Cap grew 2.14% whilst the FTSE Small Cap rose 2.51%.

According to OCBC Investment Research, US stocks closed lower Thursday in effect snapping a five-day streak which helped drive the Dow and the S&P 500 out of correction territory. It noted however, that major indexes posted robust gains for a third week in a row with the Federal Reserve reassuring the market it will remain flexible on interest rates going forward.

Seven out of eleven S&P 500 industries ended lower, led by Energy (-0.63%) and Utilities (-0.44%). Healthcare (0.33%) on the other hand led the gains.

"The weakness on Wall Street Friday could send the local bourse to a muted start this morning, with trade data from China in focus today," OIR said.

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