Singapore shares close flat on Wednesday

AHEAD of a widely expected interest rate hike decision by the United States Federal Reserve, Singapore stocks ended flat on Wednesday with the Straits Times Index retreating 1.17 points to 2,954.06.

But the index's sideways move did not exactly mirror the broad market, where caution reigned. Losers outnumbered gainers 230 to 200, or about eight down for every seven up.

About 1.94 billion shares worth S$950.3 million in total changed hands, which worked out to an average unit price of S$0.49 per share.

The most actively traded counter was Magnus Energy Group, which ended flat at S$0.001 with 116.6 million shares changing hands. Other actives included Noble Group and Spackman Entertainment Group.