Daily Markets Briefing: STI up 0.51%

Find out which firms underperformed.

According to KGI Fraser, The STI rose 15.47 points (+0.51%) to close at 3,030.61 last Friday, along with the rest of Asia (Nikkei 225 +1.1%, Hang Seng +0.8%, CSI 300 +1.4%).

U.S. stocks ended a choppy session higher as well, posting a third consecutive week of gains as investors appeared to shrug off lackluster corporate earnings and mixed economic data, KGI Fraser said.

Here’s more from KGI Fraser:

The uplift in the Singapore benchmark were led by DBS (+1.3%; BUY TP: S$22.60) and OCBC (+1.1%; BUY TP: S$11.44), with UOB (-0.1%; HOLD TP: S$23.60) notably falling by 0.1%.

Key losers that weighed on the index include Thai Bev (-2.2%) and ST Engineering (-1.5%).