Singapore shares open lower on Wednesday

SINGAPORE stocks opened lower on Wednesday, with the Straits Times Index shedding 0.4 per cent or 14.57 points to 3,423.49 as at 9.04am.

This comes as Wall Street ended lower on Tuesday where investors continued to mull how an overhaul of the Senate's tax reform legislation could affect corporate earnings.

About 54.1 million shares worth S$79.6 million changed hands. Losers outnumbered gainers 73 to 44.

The most actively traded counter was Allied Technologies, which rose S$0.001 to S$0.083 with nine million shares changing hands. Other actives included Cosco Shipping International (Singapore) and Singtel.