Daily Markets Briefing: STI up 0.29%

Expect muted gains today.

The Straits Times Index (STI) ended 9.30 or 0.29% higher at 3,212.88.

The top active stocks were DBS, which rose 0.52%, CapitaLand, which soared 2.53%, Singtel, which grew 1.34%, OCBC Bank, which jumped 0.36%, and UOB, which went up 0.72%.

The FTSE Mid Cap rose 0.12% whilst the FTSE Small Cap dipped 0.32%.

According to OCBC Investment Research, stocks rallied into the close, ending just shy of session highs, as optimism over progress on US-China trade talks appeared to overshadow concerns about a slowing economic expansion.

Nine out of eleven S&P 500 industries ended higher, led by (1.18%) and Industrials (1.01%) whilst Energy (-0.16%) and Real Estate (-0.11%) lost ground. For the month, the index advanced 1.79%.

“Today’s tone is likely to be fairly buoyant following the gains on Wall Street Friday,” OIR said.