Daily Markets Briefing: STI up 1.16%

Developers' shares recovered from the declines following the property curb.

The Straits Times Index (STI) ended 37 points or 1.16% higher at 3228.82, taking the year-to-date performance to -5.12%.

The top active stocks were DBS, which gained 1.42%, Singtel, which rose 1.55%, CityDev, which grew 1.69%, UOB, which is up 0.95%, and CapitaLand, with a 1.00% advance.

The FTSE ST Mid Cap Index gained 1.05%, while the FTSE ST Small Cap Index rose 0.66%.

According to OCBC Investment Research, the Dow had its best day in a month, jumping by triple digits to close higher for a third straight session, as U.S. stocks posted a broad rally, with strong economic data appearing to offset worries about rising trade tensions.

Six out of eleven S&P 500 industries ended higher, led by Financials (2.32%) and Industrials (1.81%) while Utilities (-3.13%) and Telecommunication Services (-1.42%) led the declines.

"Continued gains on Wall Street overnight could keep local sentiment fairly positive today," OCBC Investment Research said.