Daily Markets Briefing: STI up 0.81%

Wall Street's rally could potentially see the local bourse continuing its five-day climbing streak.

The Straits Times Index (STI) ended 25.44 or 0.81% higher at 3,183.51.

The top active stocks were DBS, which climbed 0.2%, Singtel, which inched up 0.07%, UOB, which grew 0.25%, OCBC, which remained unchanged, and ThaiBev with a 0.025% advance.

The FTSE Mid Cap grew 4.62% whilst the FTSE Small Cap rose 1%.

According to OCBC Investment Research, the Dow Jones Industrial Average and the S&P 500 exited correction territory on Thursday, with the stock market rising for a fifth session in a row.

Ten out of the eleven S&P 500 industries ended higher, led by Real Estate (1.55%) and Industrials (1.44%). Consumer Discretionary (-0.23%) bucked the trend.

“Following the rally on Wall Street overnight, we could potentially see the STI continuing its 5-day streak climb, driven by the dovish Fed comments and optimism over US-China trade negotiations,” OIR said.