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Despite Wall Street’s gains, local bourse is likely to remain cautious. The Straits Times Index (STI) ended 5.26 points or 0.16% lower to 3230.49 on Wednesday, taking the year-to-date performance to +12.14%. The top active stocks today were Singtel, which declined 0.79%, DBS, which declined 0.29%, UOB, which gained 0.65%, OCBC Bank, which declined 0.19% and CapitaLand Mall Trust, with a 1.02% fall. OCBC Investment Research said this came with the U.S. stocks closed slightly higher as the financial sector helped to cap a sharp drop in energy shares, ahead of potentially market moving events on Thursday, including the U.K. election and former FBI director James Comey Senate testimony. Meanwhile, eight out of eleven S&P 500 industries ended higher, led by Financials (0.82%) and Real Estate (0.47%) while Energy (-1.48%) and Industrials (-0.14%) led the declines. Here’s more from OCBC Investment Research:

And SGX faces three big risks. From PropertyGuru via Yahoo!: Singapore has been named among 10 cities in Asia Pacific implementing big plans to improve urban mobility, according to a report launched by the Urban Land Institute (ULI) and Centre for Liveable Cities (CLC). The other cities on the list are Seoul, Shanghai, Suwon, Taipei, Tokyo, Bandung, Ho Chi Minh City, Sydney and Yangon. The report noted that Singapore’s growing population which now stands at 5.6 million and limited land has led to more space-efficient modes of transportation. For instance, more incentives have been introduced for people to use public transport and embrace new forms of transportation such as personal mobility devices (PMDs).

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