Singapore shares open 7.5 points lower on Wednesday

SHARES in the local bourse opened lower on Wednesday, with the key Straits Times Index slipping 7.54 points to 2,847.15.

As at 9.01am, some 94 million shares worth about S$75 million were done, with 55 counters up and 56 down.

US stocks made modest gains overnight ahead of outcomes of crucial meetings by the Federal Reserve and the Bank of Japan and as oil prices ticked higher.

Consensus believes the Fed may hold on Wednesday and signal a hike in December although the risk of a surprise hike is not negligible, said DBS Group Research.