MARKETS & INVESTING | Staff Reporter, Singapore

Daily Markets Briefing: STI up 0.39%

Don't expect gains today.

The Straits Times Index (STI) ended 13.8 points or 0.39% higher to 3550.21, taking the year-to-date performance to +4.33%.

The top active stocks were DBS, which declined 0.11%, OCBC Bank, which gained 0.99%, Singtel, which gained 0.28%, Keppel Corp, which gained 1.72% and Sembcorp Marine, with a 9.42% advance.

The FTSE ST Mid Cap Index gained 0.28%, whilst the FTSE ST Small Cap Index rose 0.28%.

According to OCBC Investment Research, US stocks sank, retreating from all-time highs as commodities producers and industrial shares took a hit with oil and metals in decline.

Eight out of eleven S&P 500 industries finished lower, with Energy, which fell 1.23%, and Materials, which fell 1.16%, leading the declines whilst Real Estate, which grew 0.48%, and Health Care, which grew 0.46%, led the gains.

"The retreat on Wall Street overnight is likely to spark a similar correction in the local bourse today. We note that the STI is showing overbought signs, trading around 73% RSI," OCBC said.

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