Local shares declined on Wednesday amid a regional slump, after China's leaders failed to outline steps to curb state dominance of the economy and amid bets the United States Federal Reserve may start reducing stimulus next month.

The local benchmark Straits Times Index fell 13.51 points, or 0.42 per cent, to 3,166.74.

There were 278 losers, outnumbering the 116 gainers.

Noble Group was the top active, sliding three cents to $1.05 after saying on Tuesday that its third-quarter net profit fell 70 per cent from the same period a year ago.

Otto Marine was the next most active, retreating 0.1 cent to 6.1 cents.