Daily Markets Briefing: STI up 1.08%

Expect some gains today.

The Straits Times Index (STI) ended 36.5 points or 1.08% higher to 3424.64, taking the year-to-date performance to +18.88%.

The top active stocks were DBS, which gained 2.48%, UOB, which gained 0.98%, OCBC Bank, which gained 2.23%, ComfortDelGro, which declined 1.55% and Singtel, with a 0.53% fall.

The FTSE ST Mid Cap Index gained 0.58%, whilst the FTSE ST Small Cap Index rose 0.39%.

According to OCBC Investment Research, US stocks rose on Friday, with both the Dow and the S&P 500 ending at records after the November jobs report came in much stronger than expected, underlining the economy’s strong fundamentals.

Out of 11 S&P 500 industries, 10 finished higher, led by Telecommunication Services, which rose 1.52%, and Health Care, which rose 1.11%, whilst Materials, which slipped 0.02%, bucked the trend. The index advanced 0.35% for the week.

"Continued strength on Wall Street Friday could keep local sentiment fairly upbeat today," OCBC said.