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Daily Markets Briefing: STI up 0.26%

Singapore Business Review
Daily Markets Briefing: STI up 0.26%

Expect a boost today.

The Straits Times Index (STI) ended 8.68 points or 0.26% higher to 3338.2 on Tuesday, taking the year-to-date performance to +15.88%.

The top active stocks yesterday were DBS, which gained 1.53%; Singtel, which declined 2.77%; OCBC Bank, which gained 0.26%; UOB, which gained 1.08%; and CapitaLand, with a 1.63% advance.

OCBC Investment Research said U.S. stock market finished higher, with the Dow logging its second straight record and a sixth straight session in positive territory on the back of upbeat earnings, shaking off less-than-stellar reports on manufacturing and inflation.

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Meanwhile, eight out of eleven S&P 500 industries ended higher. The best performers were Financials (0.81%) and Information Technology (0.53%) and laggards were Health Care (-0.22%) and Industrials (-0.22%).

"The gains on Wall Street overnight could lift local sentiment, potentially extending the STI’s 0.26% gains yesterday," the brokerage firm said.



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