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Singapore stocks finish lower ahead of US FOMC meeting
THE Straits Times Index (STI) on Wednesday fell 4.09 points to 3,253.43, weighed down mainly by falls in DBS and OCBC. Turnover remained below-par as it has for several days now, with 1.9 billion worth S$976.2 million traded and excluding warrants there were 174 rises versus 264 falls throughout the market.
As was the case with Tuesday's rise in the index, no specific reason could be found for the selling, with brokers describing the market as quiet and listless ahead of the US Federal Open Market Committee (FOMC) meeting that ends on Wednesday.
Losses sustained in the shares of DBS and OCBC contributed four points towards the STI's loss. Also weighing on the index were falls in Jardine Matheson, Cycle & Carriage and UOL.