Daily Markets Briefing: STI up 0.83%

Expect more boost today.

The Straits Times Index (STI) ended 26.76 points or 0.83% higher to 3235.67 on Thursday, taking the year-to-date performance to +12.32%.

The top active stocks yesterday were DBS, which gained 2.09%, OCBC Bank, which gained 0.74%, Singtel, which declined 0.26%, UOB, which gained 1.51% and Ascendas REIT, with a 0.78% advance.

OCBC Investment Research said the Dow closed at a record for the 24th time in 2017, as gains in the financial sector helped the broader market book modest gains ahead of a roster of corporate results from the U.S.’s biggest banks.

Meanwhile, seven out of eleven S&P 500 industries ended higher, with Financials (0.61%) and Energy (0.44%) leading gains. Telecommunication Services (-0.57%) and Utilities (-0.35%) led losses.

"The gains on Wall Street overnight could lift local sentiment this morning," the brokerage firm said.