Daily Markets Briefing: STI up 1.29%

Wall Street's retreat could mute gains today.

The Straits Times Index ended 36.79 or 1.29% higher to 3,071.10

The top active stocks were Genting Sing, which grew 0.15%, DBS, which rose 0.25%, UOB, which advanced 0.30%, OCBC, which climbed 0.18%, and Singtel, with a 0.13% advance.

The FTSE Mid Cap rose 7.91% whilst the FTSE Small Cap grew 2.91%.

OCBC Investment Research noted that stocks ended modestly lower after the release of minutes from the Federal Reserve’s last policy meeting, but remained above session lows. The weaker tone came a day after major indexes bounced back from technically oversold conditions, posting their biggest one-day jump since late March.

Seven out of eleven S&P 500 industries ended lower, led by Materials (-0.83%) and Energy (-0.70%) whilst Financials (0.91%) and Communication Services (0.52%) led the gains.

“The retreat on Wall Street overnight amid concerns on rising interest rates is likely to weigh on local sentiment today,” OCBC Investment Research said.

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