Daily Markets Briefing: STI up 0.39%

Investors are urged to take caution today.

The Straits Times Index (STI) ended 13.38 points or 0.39% higher to 3479.76, taking the year-to-date performance to +2.26%.

The top active stocks were DBS, which gained 0.29%, UOB, which gained 0.22%, OCBC Bank, which gained 0.86%, Singtel, which gained 0.59% and Venture, with a 0.94% advance.

The FTSE ST Mid Cap Index gained 0.43%, whilst the FTSE ST Small Cap Index rose 0.21%.

According to OCBC Investment Research, US stocks closed lower on Wednesday as investors assessed rising geopolitical tensions.

Nine out of 11 S&P 500 industries ended lower, with Telecommunication Services (-1.49%) and Financials (-1.26%) leading the declines whilst Energy (1.04%) and Real Estate (0.20%) gained.

"The weakness on Wall Street overnight could dampen local sentiment as investors digest the minutes from Federal Reserve meeting and weigh the impact of geopolitical tensions," OCBC said.

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