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Singapore shares open lower on Thursday on Fed rate rise talk

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THE looming possibility of the US Federal Reserve raising interest rates in June unnerved the local market at the opening bell on Thursday.

Singapore stocks opened 0.2 per cent lower, with the Straits Times Index falling six points to 2,771.11 as at 9.01am after Fed meeting minutes released showed that it had discussed a June hike.

About 90.3 million shares worth S$72.4 million in total changed hands, which worked out to an average unit price of S$0.80 per share.

The most actively traded counter was Golden Agri-Resources, which was flat at S$0.355 with 23.7 million shares changing hands. Other actives included Magnus Energy and Cedar Strategic.

Losers outnumbered gainers 70 to 52, or about four down for every three up.