Daily Markets Briefing: STI down 0.49%

Expect some good news today.

The Straits Times Index (STI) ended 16.02 points or 0.49% lower to 3246.08, taking the year-to-date performance to +12.68%.

The top active stocks today were DBS, which declined 0.47%, Singtel, which declined 0.54%, OCBC Bank, which declined 0.71%, UOB, which declined 1.00% and CapitaLand, with a 0.82% fall.

The FTSE ST Mid Cap Index declined 0.49%, whilst the FTSE ST Small Cap Index rose 0.33%.

According to OCBC Investment Research, US stock benchmarks booked another round of records on Tuesday, with the S&P 500 notching its sixth positive session in a row, as the market took its cues from upbeat data, including reports on vehicle sales.

Eight out of 11 S&P 500 industries finished higher, led by Telecommunication Services with 1.10% and Industrials 0.48%. Utilities which dropped 0.38% and Energy which dipped 0.08% led the losses.

"The gains on Wall Street overnight could provide some inspiration to the local bourse today," OCBC said.