Caution reigns ahead of Trump's address

TRADING was cautious and quiet on Monday ahead of US President Donald Trump's address to Congress on Tuesday which could provide some idea of the economic, tax and foreign policies he intends to pursue.

With Japan and Australia closing weaker, the Straits Times Index fell 8.41 points to 3,108.62 as all three banks fell. Turnover came to 2.2 billion units worth S$1.2 billion - down from last week's S$1.3-1.4 billion average. Excluding warrants, the advance-decline score was 214-267.

Nomura said in its Asia Roundup that amid reports that the White House intends to send outlines of the fiscal 2018 budget to Capitol Hill as early as March 13, markets await further clarity from Mr Trump's address to a joint session of Congress where he is likely to discuss infrastructure plans, tax reform, healthcare a…