Daily Markets Briefing: STI up 0.09%

Local sentiment is expected to be cautious.

According to SGX, the Straits Times Index (STI) ended 3.23 points or 0.09% higher to 3468.77, taking the year-to-date performance to +20.41%.

The top active stocks were DBS, which gained 0.40%, UOB, which gained 0.56%, Singtel, which closed unchanged, ComfortDelGro, which declined 3.47% and OCBC Bank, with a 0.32% advance. The FTSE ST Mid Cap Index declined 0.54%, while the FTSE ST Small Cap Index declined 0.04%. For longer term observations please go to sgx.com/research.

OCBC said the mixed performances on Wall Street overnight are likely to keep local sentiment cautious today.

"As before, we peg the initial hurdle at 3475, ahead of 3500. On the downside, we keep the immediate support at 3433, followed by the next support level at 3380. Overall volume jumped 49.4% with 2.4b units traded and total value rose 6.5% to S$1.0b, while average value/unit dipped 28.7% to S$0.43," added OCBC.

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