Geopolitical tensions - from the trade talks to possible responses to the attacks on Saudi oil facilities - kept investors preoccupied yesterday although they did manage to send the local market higher.

Trading was muted for most of the day but volumes spiked just before the close of trade.

The Straits Times Index (STI) rose just 0.88 point, or 0.03 per cent, to 3,159.68 but fell 51.81 points or 1.6 per cent for the week. About 1.17 billion securities worth $1.62 billion were traded yesterday, with losers outpacing gainers 187 to 151.

Singapore Exchange (SGX) market strategist Geoff Howie noted that real estate investment trusts (Reits) contributed significantly to the heavy trading near the close.

Popular Reits were Keppel DC Reit and Frasers Centrepoint Trust, which joins the FTSE EPRA Nareit Global Developed Index on Monday, as well as Mapletree Commercial Trust, which will be included on the STI, also on Monday.

These three Reits alone recorded $280 million in turnover, or about 17 per cent of the day's total. The top 10 Reits by turnover contributed almost $500 million or 31 per cent of the day's total.

Thanks to the late surge, Keppel DC Reit ended up as the most active on the bourse, adding 1.9 per cent to $2.11 with 60.2 million units traded.

Yangzijiang Shipbuilding continued to top the STI counter in terms of volume traded, losing 4.8 per cent to $1 on a volume of 39.3 million shares.

TEE International retreated 8.5 per cent to 4.3 cents. It announced on Thursday that it has received a 60-day extension from the SGX to conduct its annual general meeting by Nov 29 and release its first-quarter results by Dec 13.

Manulife US Reit, another trust with heavier trading than usual, had turnover of nearly 14 million units before closing flat at 91 US cents.

This followed an update that its private placement and preferential offering had netted gross proceeds of about US$142.7 million (S$196.3 million), after both priced in at the top end of their issue price range.

Equities may find short-term support in anticipation of next month's high-level meetings between the United States and China, but investors must continue to manage their risks as things could turn sour quickly as they have in the past, said IG market strategist Pan Jingyi.

With China's 70th anniversary coming up on Oct 1, market participants should also monitor how the Hong Kong protests develop and whether the mainland authorities take action in the coming days, CMC Markets analyst Margaret Yang said. "The resurgence in volatility is a matter of time.