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Singapore shares extend falls for second day, real estate stocks down

Published on Mar 20, 2014 1:45 PM

SINGAPORE (Reuters) - Singapore stocks were poised to post their second consecutive day of declines on Thursday, weighed down by real estate stocks, while the broader Asian market wrestled with worries that US interest rates could rise sooner than expected.

The benchmark Straits Times Index declined 0.4 per cent to 3067.6 as of midday, as MSCI's broadest index of Asia-Pacific shares outside Japan shed 1.4 per cent.

Federal Reserve Chair Janet Yellen said the central bank might end its bond-buying program this fall, and could start to raise interest rates around six months later.

Global Logistic Properties was headed for its biggest daily loss in more than five months. The stock declined 2.7 per cent to an intra-day low of $2.57, its lowest in more than nine months, putting it on track to its fourth consecutive day of losses.

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