Daily Markets Briefing: STI up 0.54%

Expect some gains today.

The Straits Times Index (STI) ended 18.96 points or 0.54% higher to 3548.23, taking the year-to-date performance to +4.27%.

The top active stocks were DBS, which gained 1.38%, OCBC Bank, which gained 0.69%, UOB, which gained 0.14%, Venture, which gained 2.64% and Singtel, with a closed unchanged.

The FTSE ST Mid Cap Index gained 0.06%, whilst the FTSE ST Small Cap Index rose 0.01%.

OCBC Investment Research noted that US stocks finished mostly higher, on the back of easing trade tensions between the U.S. and China, with the latter agreeing to buy larger amounts of US goods to help narrow the trade deficit between the two economies.

All eleven S&P 500 industries ended higher, with gains led by Telecommunication Services (+1.49%), Industrials (+1.34%) and Real Estate (+1.02%).

"The upbeat mood on Wall Street overnight could continue to provide some confidence to the local sentiment today," OIR said.

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