Daily Markets Briefing: STI up 1.34%

Expect some good news today.

The Straits Times Index (STI) ended 45.19 points or 1.34% higher to 3427.97, taking the year-to-date performance to +0.74%. 

The top active stocks today were DBS, which gained 2.38%, UOB, which gained 1.51%, Singtel, which gained 0.90%, OCBC Bank, which gained 1.67% and Genting Sing, with a 1.89% advance.

The FTSE ST Mid Cap Index gained 0.86%, whilst the FTSE ST Small Cap Index rose 0.51%.

According to OCBC Investment Research, US markets were closed early on Thursday and were closed for a whole day on Friday. US stocks closed sharply higher Thursday, with major indexes climbing 1% in a broad rally that had nearly every sector participate in the gains and post strong weekly advances.

For the week, the S&P 500 closed up 2.03%.

"The recovery on Wall Street overnight should provide some reprieve to the local sentiment today as investors welcome the arrival of April," OCBC said.