Daily Markets Briefing: STI up 0.17%

Expect some gains today.

The Straits Times Index (STI) ended 5.99 points or 0.17% higher to 3442.35, taking the year-to-date performance to +19.49%.

The top active stocks were OCBC Bank, which gained 1.74%, DBS, which declined 0.53%, Singtel, which gained 1.08%, UOB, which gained 0.89% and ThaiBev, with a 0.51% advance.

The FTSE ST Mid Cap Index declined 0.41%, whilst the FTSE ST Small Cap Index declined 0.47%.

According to OCBC Investment Research, stocks closed at records on Tuesday after bouncing around during the regular session as geopolitical tensions and domestic developments pulled the market in different directions.

Ten out of 11 S&P 500 industries finished higher, led by Financials, which jumped 2.58%, and Telecommunication Services, which jumped 2.22%, whilst Real Estate, which dropped 0.28%, bucked the trend.

"The gains on Wall Street overnight could provide a modest boost to the local bourse this morning," OCBC said.