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Daily Markets Briefing: STI up 0.64%

Singapore Business Review

But don't expect any gains today.

The Straits Times Index (STI) ended 20.99 points or 0.64% higher to 3314.12 on Friday, taking the year-to-date performance to +15.04%.

The top active stocks on the said day were Singtel, which gained 0.77%, DBS, which gained 0.14%, UOB, which gained 1.35%, Global Logistic, which closed unchanged and Keppel Corp, with a 0.77% advance.

OCBC Investment Research said the S&P 500 index and the Nasdaq extended gains for the third week, whilst the broader market retreated as a subdued outlook from General Electric Co. cooled some buying enthusiasm with earnings season set to heat up.

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Meanwhile, five out of eleven S&P 500 industries ended lower, with Energy (-0.88%) leading the declines, while Utilities (0.77%) led the gains. The index was up 0.54% for the week.

"The weakness on Wall Street Friday is unlikely to provide much of a boost to the local bourse this morning," OCBC Investment Research said.



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