Daily Markets Briefing: STI up 0.52%

Expect some good news today.

The Straits Times Index (STI) ended 17.53 points or 0.52% higher to 3391.61, taking the year-to-date performance to +17.73%.

The top active stocks were DBS, which gained 0.92%, Singtel, which closed unchanged, OCBC Bank, which gained 0.34%, Sembcorp Marine, which gained 4.15% and Global Logistic, with a closed unchanged.

The FTSE ST Mid Cap Index gained 0.67%, whilst the FTSE ST Small Cap Index rose 0.17%.

According to OCBC Investment Research, US stocks mostly closed higher Wednesday, with the Dow and the S&P 500 ending near record levels after the Federal Reserve stood pat on interest rates but referred to the U.S. economy in positive terms.

Seven out of 11 S&P 500 industries finished higher, led by Energy, which rose 1.09%, and Materials, which rose 0.60%, whilst Utilities, which fell 0.56%, and Telecommunication Services, which fell 0.45%, led the declines.

"The gains on Wall Street overnight could keep local sentiment modestly upbeat today," OCBC said.