Brokers' take

Singapore market strategy | UOB Kay Hian Research, July 6

The Straits Times Index (STI) had posted modest gains in June 2017, rising marginally by 0.49 per cent month on month to 3,226.48 points.

Mergers and acquisitions (M&A) continued to grip the attention of investors with the potential acquisition of Croesus Retail Trust. Technology (-6.8 per cent) and land transport (-4.2 per cent) reversed their gains in May with the former affected by the tech sell-down in the US market. Similar to the US, Singapore also saw sector rotation from technology to the banks.