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Singapore shares steady ahead of Fed decision

Published on Dec 18, 2013 12:59 PM

SINGAPORE (Reuters) - Singapore shares flatlined on Wednesday, as investors awaited the conclusion of a two-day meeting of the Federal Reserve that could spell out its plans on winding down monetary stimulus.

The benchmark Straits Times Index was little changed at 3,067.99 points by midday in thin trading volume, while MSCI's broadest index of Asia-Pacific shares outside Japan firmed up half a per cent.

Stocks in financial, telecommunications and utilities rose marginally while other sectors were lower.

Maybank Kim Eng remained upbeat on Singapore's banking stocks as interest rates are expected to rise, and said DBS Group Holdings was its top pick in the sector.

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