Daily Markets Briefing: STI up 0.19%

Daily Markets Briefing: STI up 0.19%

Expect muted gains today.

The Straits Times Index (STI) ended 6.64 points or 0.19% higher to 3430.02, taking the year-to-date performance to +19.07%.

The top active stocks today were DBS, which gained 1.85%, OCBC Bank, which gained 0.76%, Singtel, which gained 0.27%, Genting Singapore, which gained 0.74% and UOB, with a 0.08% fall.

The FTSE ST Mid Cap Index declined 0.16%, whilst the FTSE ST Small Cap Index declined 0.27%.

According to OCBC Investment Research, the S&P 500 and the Dow ended slightly lower Wednesday, maintaining a soft tone after the Federal Reserve minutes indicated that an interest-rate hike is likely but the pace of future tightening could be more moderate than expected given muted inflation.

Seven out of 11 S&P 500 industries finished lower, led by Financials, which fell 0.40%, and Real Estate, which fell 0.35%, whilst Telecommunication Services, which rose 1.67%, led the gains.

"The mixed performances on Wall Street overnight are unlikely to provide much in term of cues to local bourse this morning.," OCBC said.



More From Singapore Business Review