There was not much to go on for local investors yesterday, but they still did enough to keep the market in positive territory.
The Straits Times Index (STI) added 12.08 points, or 0.4 per cent, to close at 3,360.03 - exhibiting the same uptick as Hong Kong and South Korea - but bourses in Australia, China and Malaysia dipped.
Vanguard Markets managing partner Stephen Innes called the Asian session "cautious and directionless", with traders "positioning gingerly knowing that the rest of the week is potholed by... critical US data releases, all of which has predictably left Asia equity markets struggling for direction".
American retail sales data and industrial production numbers for last month will be assessed for how they compare with China's readings on Monday, which beat estimates.
While market focus is shifting to corporate earnings for the April-to-June quarter, investors are monitoring trade developments and further indicators for signs of a global slowdown. However, increasing expectations of a United States rate cut this month continue to fuel investor optimism globally that the decade-long bull run still has legs.
Trading volume here clocked in at 1.17 billion shares worth $854.4 million. Gainers beat losers 208 to 182, while eight of the STI's 30 components ended in the red.
Real estate investment trusts (Reits) were back in focus with the FTSE Straits Times Reit index up, after six straight days of decline.
CMC Markets analyst Margaret Yang said the Reits sector is very sensitive to US interest rate guidance, so "investors need to monitor the US inflation, jobs data as well as the comments of Fed officials carefully".
Top performers included CapitaLand Commercial Trust, which closed up 1.4 per cent at $2.18; Mapletree Logistics Trust, which added 1.3 per cent to $1.62; and Keppel DC Reit, which gained 1.8 per cent to $1.71. CapitaLand Commercial Trust, one of three Reits on the STI, will release quarterly results early today.
Genting Singapore, up 0.5 per cent to 92.5 cents, was the benchmark index's most traded stock, with 19.3 million shares changing hands.
Local banks were mixed. DBS Bank ended 0.3 per cent higher at $25.99 and United Overseas Bank edged up 0.1 per cent to $26.60. OCBC Bank dipped 0.2 per cent to $11.50.
Penny share Koh Brothers Eco Engineering was on the most-traded list, up 6.4 per cent to five cents on 21 million shares traded. Its joint venture snagged a $668.2 million contract with national water agency PUB on Monday.
