Daily Markets Briefing: STI up 0.23%

Expect some good news today.

The Straits Times Index (STI) ended 7.74 points or 0.23% higher to 3384.98, taking the year-to-date performance to -0.53%.

The top active stocks yesterday were DBS, which gained 2.25%, SGX, which declined 7.35%, UOB, which gained 0.42%, OCBC Bank, which gained 0.57% and Singtel, with a 0.59% fall.

The FTSE ST Mid Cap Index declined 0.24%, while the FTSE ST Small Cap Index declined 0.68%.

According to OCBC Investment Research, US stocks rose for a second straight session Monday as investors waded back into the market, hunting for bargains amid signs of stability after one of the worst weeks for equity benchmarks in two years.

All eleven S&P 500 industries finished higher, led by Materials, which rose 2.09%, and Information Technology, which rose 1.79%.

"Continued strength on Wall Street overnight could lift local sentiment, potentially extending the STI’s 0.2% gains in the previous session," OCBC said.

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