Daily Markets Briefing: STI up 1.19%

Expect muted gains today.

The Straits Times Index (STI) ended 40.65 points or 1.19% higher to 3443.51, taking the year-to-date performance to +1.19%.

The top active stocks were DBS, which gained 0.89%, UOB, which gained 3.05%, OCBC Bank, which gained 4.24%, ThaiBev, which declined 6.59% and Singtel, with a 0.60% fall.

The FTSE ST Mid Cap Index gained 0.82%, whilst the FTSE ST Small Cap Index rose 0.50%.

OCBC Investment Research noted that the Dow and S&P 500 on Friday logged their sixth straight advance, notching a slight gain at the close, with the benchmarks ending well off session highs as political news sparked late-session turbulence.

Six out of eleven S&P 500 industries finished higher, led by Utilities (0.75%) and Health Care (0.70%) while Consumer Discretionary (-0.44%) and Materials (-0.32%) led the declines. The index advanced 4.30% for the week.

"The mixed performances on Wall Street Friday are unlikely to provide much in terms of cues to the local bourse today," OCBC said.

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