Daily Markets Briefing: STI up 0.86%

Expect some gains today.

The Straits Times Index (STI) ended 29.75 points or 0.86% higher to 3480.44, taking the year-to-date performance to +2.28%.

The top active stocks were DBS, which gained 0.50%, Singtel, which gained 0.60%, UOB, which gained 1.27%, OCBC Bank, which gained 0.76% and Venture, with a 0.44% fall.

The FTSE ST Mid Cap Index gained 0.67%, whilst the FTSE ST Small Cap Index rose 0.62%.

The stock market closed higher and the Nasdaq extended its winning streak for a fifth session Thursday after President Donald Trump signed a proclamation to impose tariffs of 25% on imported steel and 10% on aluminium but exempted Canada and Mexico whilst allowing other countries to negotiate exclusions.

Ten out of 11 S&P 500 industries ended higher, with Consumer Staples (0.92%) and Utilities (0.69%) leading the gains whilst Energy (-0.12%) bucked the trend.

"The gains on Wall Street overnight could keep local sentiment fairly upbeat this morning," OCBC said.

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