Daily Markets Briefing: STI up 0.26%

The trade war truce may boost sentiment.

The Straits Times Index (STI) ended 8.17 or 0.26% higher at 3,117.61.

The top active stocks were DBS, which advanced 0.20%, UOB, which grew 0.04%, OCBC, which inched up 0.02%, Singtel, which closed unchanged, and Wilmar International with a 0.05% fall.

The FTSE Mid Cap rose 1.44% whilst the FTSE Small Cap advanced 1.68%.

According to OCBC Investment Research, Stocks ended higher Friday, with the S&P 500 index and the Nasdaq notching their best week in nearly seven years, after upbeat comments from a U.S. trade official who suggested that some sort of a trade deal is possible during a meeting between President Donald Trump and Chinese leader Xi Jinping at the G-20 summit in Argentina.

Ten out of eleven of the S&P 500 industries closed higher, led by Utilities (1.54%) and Health Care (1.10%) whilst Energy (-0.24%) bucked the trend. The index posted 1.79% monthly gain.

"The agreement between U.S President Donald Trump and Chinese leader Xi Jinping to pause the introduction of new tariffs for 90 days could provide a boost to the local bourse today," added OIR.

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