News

Stocks

Gerv Tacadena

, Singapore

Published:

9 years ago

Daily Markets Briefing: STI up 0.2%

The UK election results may keep investors cautious.

The Straits Times Index (STI) ended 6.56 points or 0.2% higher to 3237.05 on Thursday, taking the year-to-date performance to +12.37%.

The top active stocks were Singtel, which gained 0.27%, DBS, which gained 0.20%, CapitaLand Mall Trust, which gained 0.26%, CapitaLand, which gained 1.12% and SATS, with a 1.19% advance.

According to OCBC Investment Research, US stocks notched meager gains, but the Nasdaq closed at a record after former FBI Director James Comey’s appearance in front of the U.S. Senate Intelligence Committee concluded without any significant revelations.

Meanwhile, four out of eleven S&P 500 industries ended higher, led by Financials (1.14%) while Utilities (-0.88%) led the declines.

Here's more from OCBC Investment Research:

Investors are likely to remain cautious today as they await the U.K election results.

We peg the immediate resistance at 3250, ahead of 3300. On the downside, we keep the immediate support at 3200, ahead of 3170.

Overall volume shrank 2.4% with 1.9b units traded, and total value dipped 14.5% to S$0.9b, while average value/unit fell 12.4% to S$0.46.

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