Daily Markets Briefing: STI up 1.19%

Expect muted gains today.

The Straits Times Index (STI) ended 37.23 or 0.1.19% higher 3,176.57.

The FTSE ST Mid Cap Index inched up 5.55%, whilst the FTSE ST Small Cap Index grew 1.49%.

The top active stocks are DBS, which slipped 0.20%, Singtel and Genting Sing, which are both unchanged, UOB, which inched up 0.40%, and Keppel, with a 0.10% advance.

According to OCBC Investment Research, US stocks closed mostly higher as investors took escalating trade tensions in stride to instead focus on improving economic fundamentals even as a weak technology sector hobbled the Nasdaq.

Four out of eleven sectors in the S&P 500 indices closed higher, led by Financials (1.76%) and Materials (1.12%) whilst Utilities (-2.13%) and Telecommunication Services (-1.35%) led the losses.

"The modest gains on Wall Street overnight could provide support for the local markets as investors continue to look for value," OCBC Investment Research said.

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