Daily Markets Briefing: STI up 0.54%
But the mixed performance on Wall Street could keep local bourse cautious.
The Straits Times Index (STI) ended 17.99 points or 0.54% higher to 3354.71 on Thursday, taking the year-to-date performance to +16.45%.
The top active stocks yesterday were DBS, which gained 1.65%; OCBC Bank, which gained 2.13%; Singtel, which gained 0.25%; UOB, which gained 1.32%; and Rowsley, with a 9.02% fall.
OCBC Investment Research said the Dow Jones Industrial Average closed at a record on Thursday driven by earnings-fueled gains in Verizon and Boeing, but the broader market finished in negative territory due to a firm slump in technology stocks.
Meanwhile, six out of eleven S&P 500 industries ended lower, led by Information Technology (-0.82%) and Health Care (-0.68%) while Telecommunication Services (5.20%) and Energy (1.01%) led the gains.
"The mixed performances on Wall Street overnight are likely to keep local sentiment fairly cautious today," the brokerage firm noted.
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