Daily Markets Briefing: STI up 1.54%

Expect muted gains today.

The Straits Times Index ended 46.35 or 1.54% higher at 3,059.23.

The top active stocks were DBS, which grew 0.20%, UOB, which advanced 0.39%, Singtel, which inched up 0.04%, OCBC, which climbed 0.14%, and Jardine C&C, with a 0.60% advance.

The FTSE Mid Cap rose 8.13% whilst the FTSE Small Cap advanced 1.51%.

OCBC Investment Research (OIR) noted that US stocks staged a major rally to close out the week, more than erasing Thursday’s sharp losses after a better-than-expected jobs report showed employers adding new personnel at a robust pace.

All eleven S&P 500 industries ended higher, led by Information Technology (4.40%) and Communication Services (4.07%).

"Soothing comments from Federal Reserve Chair Jerome Powell and an easing monetary policy in China are likely to bolster local sentiment today." OIR said.