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Singapore shares open flat on Wednesday

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SINGAPORE stocks opened flat on Wednesday, with the Straits Times Index dropping 0.63 point to 3,337.57 as at 9am, despite US stock gains overnight.

The Dow Jones Industrial Average reached a fifth straight record high on Tuesday and neared the 22,000 mark, powered by Goldman Sachs, JPMorgan Chase and other banks. Likewise, Apple Inc on Tuesday delivered strong fiscal third-quarter earnings. The iPhone maker signalled that its upcoming 10th anniversary phone lineup is on schedule, driving the stock up 6 per cent to an all-time high in after-hours trading overnight.

About 62.5 million shares worth S$94.2 million in total changed hands, which worked out to an average unit price of S$1.51 per share.

The most actively traded counter was investment holding company JEP, which was flat at S$0.032 with 3.6 million shares changing hands. Other actives included Accrelist and Sheng Siong.

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Gainers outnumbered losers 63 to 45, or about seven up for every five down.

Elsewhere, Japan's Topix gained 0.3 per cent while Australia's S&P/ASX 200 Index fell 0.3 per cent. South Korea's Kospi index added 0.2 per cent and futures on Hong Kong's Hang Seng Index were flat, Bloomberg reported.

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