Daily Markets Briefing: STI down 0.03%

Positive sentiments in Wall Street could fuel muted gains today.

The Straits Times Index (STI) ended 1.06 points or 0.03% lower at 3292.65, taking the year-to-date performance to -3.24%.

The top active stocks were DBS, which gained 0.62%, Singtel, which declined 0.60%, UOB, which slipped 0.23%, YZJ Shipbldg SGD, which advanced 6.94% and Venture, with a 4.55% fall.

The FTSE ST Mid Cap Index gained 0.35%, whilst the FTSE ST Small Cap Index rose 0.57%.

OCBC Investment Research noted that US stocks pared early gains, but were still trading higher, powered by a number of positive earnings results, including the parent company of Google that posted results that came in much stronger than expected.

Nine out of eleven S&P 500 industries ended higher, led by Telecommunication Services (1.76%) and Energy (1.32%) whilst Real Estate (-0.31%) and Consumer Discretionary (-0.28%) lost ground.

"We expect the local sentiment to be fairly positive this morning, following the gains in the US stock markets overnight," OCBC Investment Research said.

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