STI up 6.64 points in cautious market

LOCAL traders were cautious on Wednesday, ahead of the domestic growth and inflation numbers out today - but it was still a good day for world markets, on the whole.

The benchmark Straits Times Index closed up a smidgen - by 6.64 points, or 0.19 per cent, to 3,430.02. Gainers closely outnumbered losers 231 to 218. This was enough to send the index to its highest since May 2015.

CMC Markets Singapore analyst Margaret Yang noted in the morning that Prime Minister Lee Hsien Loong's hints at impending tax increases have not yet hit trading activity, "as markets take more of a gradual 'phase-in' and expect government to conduct proper communication with the public before executing any tax hikes".