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Singapore shares edge down; gain on the week

Published on May 30, 2014 1:15 PM

SINGAPORE (Reuters) - Singapore stocks edged down on Friday as investors booked profits ahead of the weekend, with declines spread across the board, while Asian shares flat-lined despite another record closing high in United States markets.

The benchmark Straits Times Index fell 0.3 per cent to 3291.82, after a strong comeback the previous day, though it gained 0.4 per cent on the week.

MSCI's broadest index of Asia-Pacific shares outside Japan was flat, deflecting optimism in U.S. markets as the S&P 500 index posted its third record closing high in four sessions.

Trading among banks dominated the Singapore index, with all three banks among the top traded stock on the bourse by value. OCBC shares were up 0.2 per cent, UOB shares rose 0.04 per cent and DBS fell 0.4 per cent.

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