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Singapore shares close nearly 10 points lower

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SINGAPORE shares ended the session lower for a second straight day on Wednesday as investors held their breath and searched for signs on when the US Federal Reserve will start reducing its massive balance sheet ahead of Fed chief Janet Yellen's two-day semi-annual monetary policy testimony beginning on Wednesday night.

The Straits Times Index closed at 3,208.91, down 9.89 points or 0.31 per cent, dragged down by market movers DBS Group Holdings and Genting Singapore, among others.

Turnover amounted to 2.2 billion worth S$1.1 billion and, excluding warrants, gainers beat losers 210 to 208, signalling that the broader market was mixed.

Penny stocks were in play on Wednesday, with shares of energy-related companies in particular boosted by gains in oil prices.

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