Daily Markets Briefing: STI up 0.51%

Sentiment is on the cautious side.

The Straits Times Index ended 15.55 or 0.51% higher at 3,078.06.

The top active stocks were DBS, which grew 0.09%, Genting Sing, which advanced 0.02%, OCBC, which rose 0.10%, UOB, which dipped 0.03%, and Singtel, which closed unchanged.

The FTSE Mid Cap Index rose 6.17% whilst the FTSE Small Cap Index grew 0.96%.

U.S. stocks closed mostly lower Monday, with the S&P 500 dropping for a fourth day in a row, as investors braced for a deluge of earnings against the backdrop of higher interest rates and concerns about global growth, according to OCBC Investment Research. 

Nine out of eleven S&P 500 industries ended lower, led by Financials (-2.06%) and Real Estate (-1.42%) whilst Information Technology (0.81%) and Consumer Discretionary (0.48%) gained ground.

"We expect the overall tone to remain cautious today, following the muted performances on Wall Street overnight," added OCBC Investment Research.