Daily Markets Briefing: STI up 0.29%

Investors are urged to take caution today.

The Straits Times Index (STI) ended 10.31 points or 0.29% higher to 3543.17, taking the year-to-date performance to +4.12%.

The top active stocks were DBS, which gained 0.07%, OCBC Bank, which declined 0.68%, Venture, which gained 4.12%, Singtel, which gained 0.57% and UOB, with a 0.17% advance.

The FTSE ST Mid Cap Index gained 0.24%, whilst the FTSE ST Small Cap Index declined 0.39%.

OCBC Investment Research (OIR) noted that US stocks came off their lows on Tuesday to end a choppy session little changed, after President Donald Trump, as expected, announced the US would pull out of a multilateral nuclear deal with Iran.

Seven out of 11 S&P 500 industries ended lower, with Utilities (-2.51%) and Telecommunication Services (-1.30%) leading the declines. Energy (0.78%) and Industrials (0.72%) led the gains.

"The muted performances on Wall Street overnight could cause local sentiment to remain cautious today, as investors assess the implications of President Trump’s decision to scrap the Iran nuclear deal," OIR said.