Singapore shares open 0.2% down on Wednesday

SINGAPORE stocks opened 0.2 per cent lower on Wednesday, with the Straits Times Index losing 5.99 points to 3,398.48 as at 9.06 am.

About 72 million shares worth S$72.7 million in total changed hands, which worked out to an average unit price of S$1.01 per share.

The most actively traded counter was Nico Steel, which fell S$0.001 to S$0.003 with 24.7 million shares changing hands. Other actives included Singtel and Rowsley.

Losers outnumbered gainers 62 to 53, or about seven down for every six up.

The local bourse was in line with US stocks as Wall Street retreated from records on Tuesday, as investors paused their enthusiasm after the US House of Representatives approved the long-awaited Republican tax cut bill.

The broad-based S&P 500 shed 0.3 per cent to close at 2,681.48, while the tech-rich Nasdaq Composite Index fell 0.4 per cent to 6,963.85, AFP reported.

In Japan stocks, both the benchmark Nikkei and broader Topix opened flat.