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Singapore stocks: STI resumes Wednesday afternoon down 0.3% at 3,340.21

US-CHINA trade talks may be underway, but US President Donald Trump's comments on trade kept expectations of progress between the two economies at bay ahead of the Federal Reserve’s anticipated rate cut.

Singapore's Straits Times Index (STI) was trading at 3,340.21, down 10.33 points or 0.3 per cent, as at 1.05pm on Wednesday.

Elsewhere in the Asia-Pacific, shares in Australia, China, Hong Kong, Japan, Malaysia and South Korea were all trading lower. 

ING Asia economist Prakash Sakpal said that investor mood was risk-off, as "President Trump's trade threat weighs on the risk-taking, while the investors also are likely to tread a cautious path ahead of the Fed statement tonight".

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VM Markets managing partners Stephen Innes expects traders to remain in a "heightened state of alert as headlines from Shanghai will catalyse market moves". 

Shortly after the afternoon session commenced, volume on the Singapore bourse clocked in at 597.89 million securities traded and a total turnover of S$844.47 million. Both are on track to exceed their respective six-month daily averages.

Across the market, decliners were slightly ahead of advancers 158 to 148. The benchmark index had 23 of the STI's 30 components trading in the red.

Singtel, down S$0.04 or 1.2 per cent lower to S$3.33, was the benchmark index's most traded stock with 22.3 million shares changing hands.

The local banks were mixed. DBS Group Holdings was S$0.22 or 0.8 per cent higher at S$26.71. Meanwhile, United Overseas Bank was flat at S$26.80 and OCBC Bank dipped S$0.03 or 0.3 per cent to S$11.68.

A couple of the STI's property developers continued to notch up gains on the back of increasing interest from investors. CapitaLand shares added S$0.01 or 0.3 per cent to trade at S$3.64 while City Developments advanced S$0.05 or 0.5 per cent to S$9.88.

The local banks were mixed. DBS Group Holdings was S$0.22 or 0.8 per cent higher at S$26.71. Meanwhile, United Overseas Bank was flat at S$26.80 and OCBC Bank dipped S$0.03 or 0.3 per cent to S$11.68.

Among key second-line performers, Sheng Siong shares continued to garner the attention of investors after posting a better-than expected Q2 performance. The supermarket operator, which plans to pay out a higher dividend for the April to June period, was trading at S$1.17, up S$0.02 or 1.7 per cent.