Singapore shares open flat on Wednesday

THE local market was largely unchanged on Wednesday from the day before, with the Straits Times Index gaining a marginal 0.77 points to 3,372.18 as at 9.03am, as oil led a rebound in the commodity prices.

That could have helped to lift the index despite weakness on Wall Street, which had dragged some other markets in Asia down on Wednesday morning.

About 187 million shares worth S$73 million changed hands in the first few minutes, working out to an average unit price of S$0.39 per share.

The most actively traded stock was Qingmei, which rose by S$0.013 to S$0.047 with 34.8 million shares traded. Other actives included New Silkroutes and MDR.

Losers outnumbered gainers 77 to 73.