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Singapore shares open 0.31% lower on Wednesday

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SINGAPORE stocks dipped on a quiet Wednesday morning after US stocks took a hit overnight from falling oil prices and speculation over the Federal Reserve's movements.

At 9.04am on Wednesday, Singapore's benchmark Straits Times Index (STI) was down 8.83 points or 0.31 per cent at 2,809.55.

Some 50 million shares worth S$93.8 million were traded, with losers outpacing gainers 89 to 44.

This comes after the STI on Tuesday plunged 54.95 points or 1.9 per cent to 2,818.38.

The same day, US stocks saw a broad sell-off amid lower oil prices and as observers expected a near-term rate hike from the Fed when it meets next week.

In Asia on Wednesday, Japan stocks slid, with all but one industry group on the benchmark Topix index declining at the opening, Bloomberg reported. The Bank of Japan will decide on its monetary policy next week.

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