Daily Markets Briefing: STI up 0.53%

Investors are urged to be cautious today.

The Straits Times Index (STI) ended 16.92 or 0.53% higher at 3,236.08

The FTSE ST Mid Cap Index rose 3.82% whilst the FTSE Small Cap Index advanced +0.76.

The top active stocks were DBS, which grew 0.10%, OCBC Bank, which advanced 0.09%, UOB and Keppel. which both rose 0.13%, and Singtel, with a 0.05% advance.

According to OCBC Investment Research, US stocks finished mostly lower amidst subdued activity as investors limited big bets ahead of the Federal Reserve’s monetary-policy decision. Concerns about continuing trade tensions lingered, further capping the market’s upside momentum.

Three out of eleven sectors in the S&P 500 indices closed higher, led by Energy (0.57%) and Consumer Discretionary (0.49%) whilst Utilities (-1.22%) and Telecommunications (-1.00%) led the losses.

"The local sentiment could be cautious today as Wall Street considers the impending Fed rate decision, which is likely to hike 25bps," OCBC Investment Research said.

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