Daily Markets Briefing: STI up 1.12%

Wall Street's rally may keep local sentiment fairly positive.

The Straits Times Index (STI) ended 35.13 or 1.12% higher at 3,185.07.

The top active stocks were DBS, which climbed 0.33%, OCBC, which grew 0.11%, UOB, which rose 0.38%, Singtel, which inched up 0.03%, and Genting Sing with a 0.02% advance.

The FTSE Mid Cap grew 4.82% whilst the FTSE Small Cap rose 1.09%.

According to OCBC Investment Research, US stocks closed higher for a fourth session on Wednesday on reports that US and China have narrowed their differences over trade.

Seven out of 11 S&P 500 industries ended higher, led by Energy (1.5%) and Information Technology (1.24%), whilst Consumer Staples (-0.97%) led the declines.

"The continued rally on Wall Street overnight could keep local sentiment fairly positive today," OIR said.