Daily Markets Briefing: STI up 0.28%

Don't expect some gains today.

The Straits Times Index (STI) ended 9.93 points or 0.28% higher to 3577.07, taking the year-to-date performance to +5.12%.

The top active stocks were Keppel Corp, which gained 2.67%, DBS, which gained 0.04%, Singtel, which gained 0.28%, UOB, which gained closed unchanged and OCBC Bank, with a 0.84% advance.

The FTSE ST Mid Cap Index gained 0.17%, whilst the FTSE ST Small Cap Index declined 0.13%.

According to OCBC Investment Research, all major U.S. benchmarks closed lower on Monday, with the Dow and the S&P 500 having their worst day this year, as the appetite for equities was dampened by a pickup in borrowing costs.

All eleven S&P 500 industries finished lower, with Energy, which fell 1.55%, and Utilities, which fell 1.28%, leading the declines.

"The pullback on Wall Street overnight could weigh on local sentiment today," OCBC noted.

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