Daily Markets Briefing: STI up 0.55%

Don’t expect gains today.

The Straits Times Index (STI) ended 17.36 or 0.55% higher at 3,200.28.

The top active stocks were DBS, which dipped 0.08%, OCBC Bank, which went up 0.36%, UOB, which rose 0.24%, Singtel, which jumped 1.01%, and Genting Sing which declined 0.97%.

The FTSE Mid Cap rose 0.75% whilst the FTSE Small Cap fell 0.03%.

According to OCBC Investment Research, US stocks closed higher as the energy and financial sectors buoyed the market, but main indexes came off their intraday highs on tepid housing and consumer-confidence data as well as lingering uncertainties over global growth and Brexit.

All eleven S&P 500 industries ended higher, led by Energy (1.45%) and Financials (1.13%).

"Despite the modest gains on Wall Street overnight, we expect today’s tone likely to remain cautious. Investors continue to focus on developments in Brexit and outcome of U.S-China trade talks," OIR said.