Singapore index eases ahead of key Fed meeting
SINGAPORE (Reuters) - Singapore shares eased on Monday as cautious investors fretted over the possible tapering of US stimulus ahead of a key Federal Reserve meeting on Tuesday and Wednesday.
The benchmark Straits Times Index was down 0.4 per cent at 3,053.72 by midday, in line with a 0.5 per cent drop in the MSCI's broadest index of Asia-Pacific shares outside Japan.
Shopping mall developer CapitaMalls Asia and warehouse operator Global Logistic Properties were the worst performers on the index, falling more than 1 per cent.
SIA Engineering Co rose as much as 0.6 per cent to a two-week high of $4.89 after Maybank Kim Eng set a 'buy'rating and target price of $6.34 on the stock.