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Singapore shares muted on Fed tapering expectations

Published on Jan 22, 2014 3:04 PM

SINGAPORE (Reuters) - Singapore shares were little changed on Wednesday as expectations of more reductions in the US Federal Reserve's stimulus kept Asian stock markets subdued.

The benchmark Straits Times Index was nearly flat at 3,134.25 at midday in thin trading volume, while the MSCI's broadest index of Asia-Pacific shares outside Japan inched up 0.1 per cent.

The top performer on the Singapore index was Global Logistic Properties, climbing as much as 1 percent to $2.93. The warehouse operator was the second top-traded stock by value, with shares trading at 1.3 times its average 30-day full-day volume.

Units of Mapletree Logistics Trust jumped as much as 1.4 per cent to a more than one-week high of $1.05 after the real estate investment trust (REIT) said its third-quarter gross revenue and distribution per unit (DPU) rose by 0.9 and 7 per cent year-on-year.

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