Daily Markets Briefing: STI up 0.67%

Don’t expect gains today.

The Straits Times Index (STI) ended 21.9 or 0.67% higher at 3,312.52.

The top active stocks were DBS, which grew 0.91%, OCBC Bank, which went up 0.7%, UOB, which rose 0.58%, Singtel, which jumped 1.94%, and YZJ Shipbldg SGD which increased 0.66%.

According to OCBC Investment Research (OIR), US stocks posted their worst one-day performance in weeks on Tuesday, albeit finishing above session lows, building on the previous day’s decline after US officials confirmed that tariffs on imported goods from China could be raised by the end of the week.

All eleven S&P 500 industries ended lower, led by Information Technology (-2.12%) and Industrials (-2.04%).

“The weakness on Wall Street overnight on U.S-China tariff worries could weigh on local sentiment,” OIR said.