Daily Markets Briefing: STI up 0.54%

But brace for a pullback today.

The Straits Times Index (STI) ended 15.32 points or 0.54% higher to 2874.65 on Monday, taking the year-to-date performance to -0.28%.

This came as U.S. stocks closed lower on Monday as investors found few reasons to keep pushing shares higher following an extended rally that took major indexes to a string of records and lifted major indices for three straight weeks, OCBC Investment Research said.

Seven out of eleven S&P 500 industries ended lower, led by Financials (-1.39%) and Energy (-1.31%) while Utilities (1.98%) led gains.

This pullback could spark a similar correction in the local bourse today.

Here's more from OCBC:

Gold for Feb delivery rose US$12.80, or 1.08%, to close at US$1193.80/ounce while Mar Silver increased by 12 cents, or 0.73%, to settle at US$16.68/ounce.

As before, we peg the initial hurdle at 2875, ahead of 2900; on the downside, we peg the immediate support at 2825, ahead of 2800.

Overall volume shrank 14.9% with 1.4b units traded, and the total value fell 7.6% to S$1.1; while average value/unit rose 8.7% to S$0.76.

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