Rate cut hopes fuel US office Reits rally; STI up marginally

Local index inches up 0.05%; gainers beat losers 304 to 244 | Singtel slips 1% as it seeks to grow stake in Thailand's AIS | Dow Jones, S&P 500 hit new highs while Nasdaq also rises

- Joan Ng

Local issues came to the fore on July 17 with key blue chips under strain, although the index itself eked out a modest rise.

DBS Bank continued its slide, falling 0.2 per cent to $37.28, but the bulk of the selling pressure came from Singtel, which announced overnight its intention to increase its stake in its Thai associate AIS. Singtel will participate in a voluntary tender offer for AISshares held by the public as part of a larger exercise that will simplify the AIS shareholding structure.