Daily Markets Briefing: STI down 0.55%

Sustained Wall Street gains could bolster gains today.

The Straits Times Index (STI) ended 17.7 or 0.55% lower at 3,225.62.

The FTSE ST Mid Cap Index gained 2.22%, whilst the FTSE ST Small Cap Index advanced 1.58%.

The top active stocks were OCBC, which advanced 1.33%, DBS, which rose 0.68%, UOB, which inched up 0.89%, CityDev, which grew 1.08%, and Genting Sing with a 0.94% advance.

According to OCBC Investment Research, US stocks gained, with the S&P 500 and the Nasdaq closing at records for a second straight session, as the market rallied on enthusiasm over a new trade deal between the U.S. and Mexico.

Nine out of eleven S&P 500 industries ended higher, led by Materials (1.47%) and Financials (1.34%) whilst Utilities (-0.64%) and Real Estate (-0.08%) lost ground.

"Continued strength on Wall Street overnight could keep local sentiment fairly buoyant today, potentially extending the STI’s gains," OCBC Investment Research noted.

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