Singapore shares drop 0.4% on Wednesday

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Singapore shares drop 0.4% on Wednesday.

MARKETS in Asia were mixed as investors were jittery on reports that there were renewed tensions between the US and China during trade negotiations and remained cautious ahead of the US Federal Reserve's policy decision later in the day.

A lack of catalysts and tepid growth prospects meant that there were low volatility and a low turnover. As such, trading clocked in a muted 903.21 million securities worth S$974.99 million. Decliners outnumbered advancers 198 to 160. The other local banks also dipped on the day. OCBC Bank ended nine Singapore cents or 0.8 per cent lower at S$11.18 and United Overseas Bank closed S$0.26 or 1 per cent lower at S$25.30.

 

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