Daily Markets Briefing: STI down 0.22%

Expect some good news today.

The Straits Times Index (STI) ended 7.77 points or 0.22% lower to 3512.68, taking the year-to-date performance to +3.23%.

The top active stocks were JMH USD, which gained 0.21%, DBS, which declined 0.38%, Singtel, which declined 0.28%, OCBC Bank, which gained 0.31%, and CityDev, with a closed unchanged advance.

The FTSE ST Mid Cap Index declined 0.31%, whilst the FTSE ST Small Cap Index declined 0.67%.

According to OCBC Investment Research, US stock benchmarks resumed their climb to close at records on Thursday, a day after the S&P 500 and Nasdaq suffered the first down day of the year on anxieties about the appetite for Treasurys from the world’s second-largest economy, China.

Eight out of 11 S&P 500 industries finished higher, led by Energy, which rose 2.03%, and Consumer Discretionary, which rose 1.62%, whilst Real Estate, which dipped 0.67%, and Utilities, which dipped 0.35%, led the declines.

"The rebound on Wall Street overnight could lift local sentiment today," OCBC said.