Daily Markets Briefing: STI up 0.37%

Expect some boosts today.

The Straits Times Index (STI) ended 12 points or 0.37% higher to 3277.26, taking the year-to-date performance to +13.76%.

The top active stocks today were YZJ Shipbldg SGD, which declined 8.00%, Singtel, which declined 0.27%, DBS, which declined 0.19%, UOB, which gained 0.97% and OCBC Bank, with a 0.90% advance.

The FTSE ST Mid Cap Index declined 0.19%, while the FTSE ST Small Cap Index declined 0.14%.

Meanwhile, US equities finished the week and the first trading day of September with a gain Friday, on expectations that a weaker-than-expected rise in August nonfarm payrolls could dull the Federal Reserve’s desire to further raise borrowing costs in 2017.

Seven out of eleven S&P 500 industries finished higher, led by Energy (0.81%) and Materials (0.58%) while Utilities (-0.30%) led the losses. The index was up 0.05% for the month.

OCBC Investment Research said, "The gains on Wall Street Friday could continue to provide a lift to the local sentiment this morning, potentially extending STI’s 0.37% gains in the previous session."