Daily Markets Briefing: STI down 0.36%

Expect some good news today.

The Straits Times Index (STI) ended 12.21 points or 0.36% lower to 3402.86, taking the year-to-date performance to +0.00%.

The top active stocks were DBS, which gained 1.45%, UOB, which declined 2.24%, OCBC Bank, which declined 2.47%, Singtel, which gained 0.60% and SIA, with a 4.99% advance.

The FTSE ST Mid Cap Index declined 0.19%, whilst the FTSE ST Small Cap Index declined 0.19%.

OCBC Investment Research noted that US stock gauges rallied Wednesday, booking a fourth consecutive gain after investors shook off initial anxieties prompted by a key consumer-inflation reading that showed the strongest monthly rise in five months.

Seven out of eleven S&P 500 industries finished higher. The best performers were Financials (2.32%) and Information Technology (1.95%) whilst the worst performers were Utilities (-1.19%) and Telecommunication Services (-0.70%).

"Gains on Wall Street overnight could continue to bring some cheer to the local bourse today," OCBC said.

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