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Daily Markets Briefing: STI down 0.27%

Daily Markets Briefing: STI down 0.27%

Expect some boosts today.

The Straits Times Index (STI) ended 9.07 points or 0.27% lower to 3388.14, taking the year-to-date performance to +17.61%.

The top active stocks were DBS, which closed unchanged, OCBC Bank, which declined 0.08%, UOB, which declined 0.66%, Singtel, which gained 0.53% and CapitaLand, with a 0.87% fall.

The FTSE ST Mid Cap Index declined 0.33%, whilst the FTSE ST Small Cap Index declined 0.11%.

According to OCBC Investment Research, the main U.S. stock benchmarks closed moderately higher Thursday, with the S&P 500 snapping a four-session losing streak on the back of gains in the technology, industrials and materials sectors. Traders focused on continued progress on tax legislation and looked ahead to the monthly jobs report due Friday.

Nine out of 11 S&P 500 industries finished higher, led by Industrials, which rose 0.90%, and Materials, which rose 0.70%, whilst Consumer Staples, which fell 0.93%, and Telecommunication Services, which fell 0.10%, lost ground.

"The rebound on Wall Street overnight could lift local sentiment this morning," OCBC said.



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