Daily Markets Briefing: STI up 0.49%

But expect some losses today.

The Straits Times Index (STI) ended 14.97 points or 0.49% higher to 3056.91 on Monday, taking the year-to-date performance to +6.04%.

The top active stocks today were Global Logistic, which gained 4.58%, DBS, which gained 1.45%, Singtel, which declined 0.26%, OCBC Bank, which gained 0.96% and CapitaLand, with a 1.78% advance.

According to OCBC Investment Research, this came as the Wall Street stocks closed lower on Monday, with the S&P 500 snapped a three-day winning streak after mixed earnings.

Meanwhile, nine out of eleven S&P 500 industries ended lower, with Energy (-0.89%) and Telecommunication Services (-0.80%) leading the declines while Information Technology (0.14%) and Industrials (0.05%) gained.

"The weakness on Wall Street overnight could spark a similar correction in the local bourse today, especially after yesterday’s 0.5% gains," OCBC said.

Here's more from the brokerage firm:

As before, we keep the immediate resistance at 3075, ahead of 3100; on the downside, we maintain the immediate support at 3025, and peg the next support at 3000.

Overall volume shrank 3.3% with 2.7b units traded, and total value climbed 11.1% to S$1.2b, while average value/unit rose 14.9% to S$0.46.

Also Read

Daily Markets Briefing: STI down 0.7%; Top stock is DBS

Daily Markets Briefing: STI up 0.41%; Top stock is ST Engineering

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit