Daily Markets Briefing: STI up 0.49%

But expect some losses today.

The Straits Times Index (STI) ended 14.97 points or 0.49% higher to 3056.91 on Monday, taking the year-to-date performance to +6.04%.

The top active stocks today were Global Logistic, which gained 4.58%, DBS, which gained 1.45%, Singtel, which declined 0.26%, OCBC Bank, which gained 0.96% and CapitaLand, with a 1.78% advance.

According to OCBC Investment Research, this came as the Wall Street stocks closed lower on Monday, with the S&P 500 snapped a three-day winning streak after mixed earnings.

Meanwhile, nine out of eleven S&P 500 industries ended lower, with Energy (-0.89%) and Telecommunication Services (-0.80%) leading the declines while Information Technology (0.14%) and Industrials (0.05%) gained.

"The weakness on Wall Street overnight could spark a similar correction in the local bourse today, especially after yesterday’s 0.5% gains," OCBC said.

Here's more from the brokerage firm:

As before, we keep the immediate resistance at 3075, ahead of 3100; on the downside, we maintain the immediate support at 3025, and peg the next support at 3000.

Overall volume shrank 3.3% with 2.7b units traded, and total value climbed 11.1% to S$1.2b, while average value/unit rose 14.9% to S$0.46.