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Singapore bourse edges lower, bucks regional trend

Published on Jan 29, 2014 6:27 PM

The local bourse, bucked the gains made by its Asian peers, with the Straits Times Index closing down 14.48 points or 0.5 per cent to 3,047.93.

Losers outpaced gainers 218 to 150 while 419 counters were unchanged. Some 1.91 billion shares worth $974.7 million were done.

Traders mostly stayed in the sidelines ahead of the conclusion of a two-day key United States Federal Reserve policy meeting. The Fed is widely expected to cut its asset buying programme by another US$10 billion a month which analysts say have already been priced in.

"It is accepted by the markets that the Fed will not want any more shocks in the market, thus the plan is to slowly take their foot off the pedal," said Ms Kelly Teoh of Singapore's IG Markets.

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