Singapore: Shares close lower ahead of Fed meeting outcome

Singapore share prices closed 0.2 per cent lower on Wednesday with the Straits Times Index down 7.94 points to 3,487.15, as investors nervously awaited the outcome of the two-day Federal Reserve policy meeting.

The index was weighed down by a drop in UOB, which fell 54 Singapore cents to S$24.42. It had reached an all-time high earlier this week.

Some real estate investment trusts also saw significant declines. Ascendas Reit, which owns industrial property, fell 12 Singapore cents or 4.7 per cent to S$2.46.

About 1.49 billion shares worth S$1.12 billion changed hands, with losers outnumbering gainers 268 to 184.