Singapore shares little changed after mixed signals from US Fed

Office workers walk past the SGX Centre, which houses the Singapore Exchange headquarters, in Singapore, on Tuesday, Jan. 21, 2014. -- PHOTO: BLOOMBERG
Office workers walk past the SGX Centre, which houses the Singapore Exchange headquarters, in Singapore, on Tuesday, Jan. 21, 2014. -- PHOTO: BLOOMBERG

Singapore - Local shares ended Thursday largely unchanged as the Straits Times Index eked out the slightest of gains of 0.81 point to 3,297.29.

Some 1.94 billion shares worth a total value of $907.2 million exchanged hands.

There were 162 gainers and 222 losers while 409 stocks were unchanged.

Investors were digesting the decision by the United States Federal Reserve to keep interest rates low for a considerable time.

At the same time, the Fed seemed to indicate a more hawkish stance when it forecast that interest rates could rise at a faster pace when they do go up.

Technology and property firm Singapore eDevelopment was the top volume counter, with 531.3 million shares swopping hands. Its shares closed at 0.1 cents down by 0.2 cents.

It was a mixed bag of fortunes for Asian bourses. Tokyo added 1.13 per cent, Shanghai gained 0.35 per cent and Sydney rose 0.16 per cent.

But Hong Kong lost 0.85 per cent and Seoul dropped 0.72 per cent.