Daily Markets Briefing: STI up 0.52%

Wall Street's gains could buoy local sentiment.

The Straits Times Index (STI) ended 16.81 or 0.52% higher at 3,229.11.

The top active stocks were DBS, which grew 0.6%, UOB, which inched up 0.3%, OCBC, which rose 0.77%, Singtel, which climbed 0.99%, and Capitaland with a 0.61% advance.

The FTSE Mid Cap grew 0.35% whilst the FTSE Small Cap rose 1.46%.

According to OCBC Investment Research, US stocks grew for a second straight session Wednesday on the back of mostly positive earnings from financial institutions such as Goldman Sachs Group and Bank of America Corp. amidst Wall Street's struggle following a partial government shutdown.

Six out of eleven S&P 500 industries ended higher, led by Financials (2.2%) and Real Estate (0.55%). Consumer Staples (-0.54%) and Communication Services (-0.41%) led the declines.

"Continued gains on Wall Street overnight are likely to keep local sentiment buoyant today," OIR said.

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